They send your direct deposit through the Automated Clearing House (ACH) system. To begin with, your employer controls your direct deposit. I just wanted to let you know a couple of things about how a checking account works to clarify a couple of misunderstandings you have. I'm sorry you had a bad experience with Wachovia. To make a long story short she gave me the bounced check fee back and i moved the money back over into my savings account.but how the heck did that branch balance cash for three weeks? I said the check was cashed at the teller window. It took Wachovia three weeks but finally some lady called and said, we need you to make this check good. I phone transferred the remaining 3670 some odd dollars in my account over to my savings account. Doesn't take a rocket scientist to figure out that wasn't true or the teller would never have given me cash. The notice said I had 200.00 in the bank at the time the check was presented. Three days later I got a bounced check notice in the mail. Wachovia gave me the cash and I went on my way. Several years ago I went to the teller window on payday and withdrew 3500.00 in cash and placed it in my girl friends account as she was paying all our bills. When contacted they said my direct deposit was not credited until 7:30 am and they can apply credits and debits in any order they want. Wachovia charged over draft fees on all of them.
I made alot of check card purchases for gas and lunch etc. As Brian said, check card authorizations are done immediatly, meaning the funds are available. It indeed was payday and funds were in my account. I closed my account later that morning and took my business elsewhere. Messing with a payroll transaction crosses the line of reason. I save every receipt, keep a spreadsheet to calculate balances, record every check, and compare things with the online statement each day. It takes discipline to manage an account. The bottom line is that Wachovia is playing games even with payroll deposits. My former bank processed such items immediately and never had a problem. I didn't know it took an electronic signal two days to travel one block. That particular transaction was lunch purchased with my card at a business loacated about a block from the nearest brach office and was not processed immediately. In reviewing my statement online, I observed that it took TWO days for an ELECTRONIC transaction to be posted.
My employer has been doing direct payroll deposits for many years and has an impeccable reputation. I returned home and reviewed my statement which indicated the deposit was made, and this was less than 30 minutes after the card failed to work (the card worked OK before). It was already after 6:00 AM and I was running late. On the way to work I stopped to get gas and there were no funds in my account. What a mistake! Yesterday was payroll date and I exopected my deposit to be there as it had been in the previosu cycle. I have used payroll direct deposit for a number of years without there ever being a problem and when I switched to Wachovia I expected the same fair and reasonnable treatment as usual. I recently started banking with Wachovia because my mortgage was sold to one of their subsidiaries.
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