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Originally Posted by Ghostsuit  I guess it depends on the way the bank does the transaction...paging ADDY...I mean the bank will get the check well before the clearing day and perhaps clearing happens first thing in the morning as the money isn't there and you guaranteed it would be your in the wrong.
Think of it like this, You pay me by check and it clears on Thursday, I expect the money in my account on Thursday morning 12.01am not Thursday night.
Going by that process you didn't have the money in the account to pay me, therefore you've defaulted on the agreement with the bank. |
Yeah that makes sense but my understanding beforehand was that you had until close of business to square up your account before charges would be applied. The annoying thing was the bank was stowed so I used quick deposit rather than speaking to a teller, who could probably have cleared it up for me.
