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Why does it take 3 days to access cash paid into a cash machine ?

(7 Posts)
Lilyloooohhhh Sun 01-Nov-09 13:52:37

Dp paid cash into my account Thursday night. I go to get some money out on Friday and it says there is no money in account.
I call into bank and am told it takes 3 days to clear..... hmm
This was paid into the bank cash machine.
Worse still i had an interest charge go out on Saturday and she told me that would make me overdrawn even though they have my money angry

TubOfLardWithInferiorRange Sun 01-Nov-09 15:06:43

It should not take three days but 24 hours should be expected as empty envelopes and/or incorrect entries would otherwise be credited and available to accounts.

LilyloovesGuyFawkes Sun 01-Nov-09 19:24:31

That's what dp thought , he said they would have to empty cash machine next day at some point so imagined it would be available by close of day at least Friday.
But still not showing a s abalance online....
Just crossing my fingers they don't charge me which is a joke given they have had my money since Thursday angry

Is this the same with all banks am seriously considering moving anyway.

TubOfLardWithInferiorRange Mon 02-Nov-09 02:14:37

All I can think of was he used a some other bank's machine-still should only be one day though. I'd ask for an explanation from the bank manager and if not satisfied would take my money elsewhere.

LilyloovesGuyFawkes Mon 02-Nov-09 11:46:13

Thanks for reply but it was my banks cash machine but the outside rather than inside one....

Am waiting to see if i get any charges this week and will go from there.
Just interested to see if it is just the Halifax that does this or every bank ?
Does yours just take 1 day then Tub ?

TubOfLardWithInferiorRange Mon 02-Nov-09 16:13:18

I have never had anything take more than a day-certainly not cash; however, the law here in the states allows for up to two business days with ATM deposits-even cash-and up to five business days with another bank's ATM. If the law is the same in the UK then I guess a Thursday evening deposit might not become available until Tuesday morning due to the weekend. Even so-if this is what is allowed it doesn't mean that this is what all banks do. You can check on-line for the regulations concerning fund availability-here it is regulation CC-and then ask around at your local banks regarding their policy and procedures.

LilyloovesGuyFawkes Mon 02-Nov-09 19:38:45

Thanks tub will check it out didn't have any idea until now!

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