Banking - I hate my bank!

[kelleigh1]

Today is payday. We have direct deposit at work and funds are supposed to be available in our account after midnight Thursday night / Friday morning. But, because today is a holiday, my stupid bank didn't post my check to my account. And since they're closed I can't even call to find out when they might actually post it. Could be tomorrow, but with limited service on a Saturday, it might not be until Monday.

Now I have money in savings, but I live off of my paycheck and any automatic payments are deducted from my checking account. The savings is for vacation and we intentionally set-up the account at a bank that is not all that convenient to get to so we wouldn't be tempted to touch the money. UGH!!

For anyone else with direct deposit that is supposed to be paid today, check your bank account. The money may or may not be there.

 

[Chicago526]

My DH's company paid him on Thrusday instead of Friday for this very reason. You should complain to your company that they tried to pay you on a Federal holiday when 99.9% of the banks are closed.

 

[gr8ful4Him]

For anyone else with direct deposit that is supposed to be paid today, check your bank account. The money may or may not be there.

I'm so sorry for your dilemma. I hope you don't have any automatic payments going out today...hopefully your pay will be in your account tomorrow!
We just started direct deposit recently where I work and I love it! Our accounting dept. was told to have all of the payment info in by Wednesday at 3 to have it deposited by Friday morning...I've had mine availabe Thursday morning 2 paydays in a row now.

 

[Tamis3girls]

We also had an email from my husbands company that his funds would be available on Thursday instead of today.

Definitely check with your husbands company and ask them what their guidelines are when a payday falls on a holiday where the banks are closed.

 

[DMRick]

Ours is never available until the day after a holiday. And if payment then falls on a weekend, it doesn't show up until the Monday after. It's probably your place of employment you have to be upset with, not your bank. Now if you find out it's suppose to go in earlier, I'd talk with the bank.

 

[Debbie Jean]

My DH's company paid him on Thrusday instead of Friday for this very reason. You should complain to your company that they tried to pay you on a Federal holiday when 99.9% of the banks are closed.

I second that.
If there is a holiday scheduled, we are always paid on Thursday.
Definitely complain!

 

[kelleigh1]

Here's the thing...everyone here has been comparing notes after the first person discovered that their direct deposit didn't show up.

It's bank related. At least one of the girls here had her check in her account yesterday...before lunch. She had gone to the ATM at lunch yesterday to get some cash and noticed that her check had been deposited. Most of the other people here had their money in their accounts last night. There are only a few of us who didn't get it in last night. So very frustrating. Our accounting department has already responded and our HR director is in the same boat as me, so I know she's addressed it too and if it was their fault, she would be ripping into them to make sure it never happens again.

My husband also has direct deposit, but he's with a temp agency and he's not sure if his check is there yet because he hasn't checked, but he also said that since he's been paid through the agency sometimes it shows up on Thursday, sometimes Friday and sometimes not until Saturday.

 

[Longsx3]

Today is payday. We have direct deposit at work and funds are supposed to be available in our account after midnight Thursday night / Friday morning. But, because today is a holiday, my stupid bank didn't post my check to my account. And since they're closed I can't even call to find out when they might actually post it. Could be tomorrow, but with limited service on a Saturday, it might not be until Monday.

Now I have money in savings, but I live off of my paycheck and any automatic payments are deducted from my checking account. The savings is for vacation and we intentionally set-up the account at a bank that is not all that convenient to get to so we wouldn't be tempted to touch the money. UGH!!

For anyone else with direct deposit that is supposed to be paid today, check your bank account. The money may or may not be there.

While your company is partially to blame the bank could have also released the funds the day prior because technically they are already at the bank.

If you don't my mind doing all of your banking electronically, unless in San Antonio, I would suggest USAA. We have had them for over 12yrs and they are great. Unlike their Insurance you do not have to be in the Military to bank with them.

 

[kelleigh1]

Thanks for the tip. I'll have to look into that.

 

[gr8ful4Him]

Here's the thing...everyone here has been comparing notes after the first person discovered that their direct deposit didn't show up.

It's bank related. At least one of the girls here had her check in her account yesterday...before lunch. She had gone to the ATM at lunch yesterday to get some cash and noticed that her check had been deposited. Most of the other people here had their money in their accounts last night.

For the future, maybe it would be easier on your nerves to switch your checking to one of their banks

 

[belleandthebeast]

Most of us have direct deposit so even though we technically get paid on Friday, our money is always available Thursday morning. This week, because Friday is a holiday, our funds were available on Wednesday. YEAH us! I imagine the week of Thansksgiving, our funds will be available on Wednesday as well.

 

[Chicago526]

Here's the thing...everyone here has been comparing notes after the first person discovered that their direct deposit didn't show up.

It's bank related. At least one of the girls here had her check in her account yesterday...before lunch. She had gone to the ATM at lunch yesterday to get some cash and noticed that her check had been deposited. Most of the other people here had their money in their accounts last night. There are only a few of us who didn't get it in last night. So very frustrating. Our accounting department has already responded and our HR director is in the same boat as me, so I know she's addressed it too and if it was their fault, she would be ripping into them to make sure it never happens again.

My husband also has direct deposit, but he's with a temp agency and he's not sure if his check is there yet because he hasn't checked, but he also said that since he's been paid through the agency sometimes it shows up on Thursday, sometimes Friday and sometimes not until Saturday.

Okay, sounds like the bank then! I'd definatly complain to them once they re-open. Doesn't do you any good now, but hopefully it won't happen again.

 

[disneymom3]

I feel your pain! Get this, DH works for a bank and we were told when he was hired that in order to have direct deposit, he had to have a bank account with them as htey would not deposit to any other bank. (Very nice) He was hired in August, yes August, and they have not managed to do direct deposit yet!! He gets a paper check everytime. The branch of this bank is a few miles further away than the bank we used to bank at and apparently I am driving up there for no good reason!

Anyway, just wanted to say I sympathize.

 

[DianeV]

We have direct deposit and the check was in yesterday (Thursday) I dont know if the employer has a deadline or anything to make sure that happens?

 

[Free4Life11]

I'm confused -- isn't direct deposit electronic??? I don't think computers take the day off on holidays...I thought it was all automatic?

The whole electronic banking makes me frustarate because it's still not that fast. You can make electronic payments and they can take days to show up...but you write a check and bam the money could be gone the next day. Makes no sense to me.

 

[KelNottAt]

If it's any consolation, USUALLY if a bank decides "no business will be transacted" on a holiday, they're talking about deposits AND withdrawals. So there's a chance your W/Ds will hold over until the next business day, just like your direct deposit.

In any event, this really stinks. Sorry.

 

[horsegirl]

Because I get paid from the state, holidays also affect my checks. We have a small line of credit attached to our bank account so that we never overdraw, because of the holiday problem and the fact that sometimes the checks take longer than others. We always pay the credit line off immediately and never pay any interest on it. Have you considered this? It might take the pressure off for a couple of days when you awaiting your paycheck. We love this feature and literally costs nothing. But again, we do not use it like a creidt card or a loan0 just a cushion for a few days because of the unpredictability of my income source.

 

[kilee]

DH's checks show up in our checking on Friday mornings. He got a notice about 3 weeks ago that they'd be there on Thursday, and thankfully it was.
I know he got a notice last week for Thanksgiving's payperiod. It said since the banks were open Friday- pay would be like usual. It better be there, I'm going BF shopping.

 

[OhMari]

Banks in Wisconsin took away Veterans Day as a holiday 10 yrs ago. When one did it they all basically did it. I think the only thing closed today was the Post Office, our Village Clerk was even working today.

 

[Sarangel]

Direct deposit works at different rates of speed, depending on who it's coming from & which bank it's going to. I had an account at a big bank & a small credit union bank and my direct deposit would always show up in the credit union before the big bank (even when transfering from my employer's account at the same bank).

As for the company, check your employee handbook it will say whether employees are paid before or after the holiday. As far as I know, there's no regulation about what a company has to do (ours pays after).

Sarangel