What aren't bank deposits immediately available?
When I deposit my pension check in my bank account, the funds aren't credited to the account for several days. With modern electronics, you'd think they would be available immediately.
- A HunchLv 74 months agoFavourite answer
Because banks do batch processing, not individual processing.
Even with "modern electronics", think of how bogged down the process would be if each transaction was processed individually.
- STEVEN FLv 74 months ago
BS. The account IS credited by close of business the same day. It isn't available for withdraw for a few days case it is returned unpaid.
FEDERAL LAW mandates my answer is correct.Source(s): Annual mandatory training as a bank employee.
- StephenWeinsteinLv 74 months ago
Because they don't know if the check is good, forged, or stolen.
- ErikLv 74 months ago
yes, it's super annoying
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- RobinLv 74 months ago
if they are paid in cash they are