I've heard from several people about how Chase manipulates transactions to take advantage of certain bank accounts. I've recently noticed that I deposited a check from my girlfriend for a large amount of money. The money posted to my account on a specific day. It has been four days since then, and her account doesn't even list the check as a pending transaction, yet the money is in my account. We were thinking Chase was back dating the check to wait for possible overdrafts, so they can capitalize on the difference in timings. I feel this is very unethical and wonder if anyone else has observed anything similar from Chase or any other banking institutions.
Monday, January 7, 2008
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This is a common mistake. When you deposit a check into your bank account, it will show in your balance. This doesn't mean the amount deposited will show in AVAILABLE balance though. The check has to clear from ordering account before it is labeled as an available balance.
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