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My bank held a deposit for three days during which time checks were returned. Once the deposit wait period is over do they have to return the NSF fees since the money was there?

Jeremy Wood

in Student Loans

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1 answer

Theresa Perry on February 25, 2018

The money was not there. . No, unless it was because of their error. More likely is that the money was not really "there". The controls have to be sent to the federal reserve, and this sent to the bank that they were drawn in, and then the money has to be transferred. This takes time.. ps - you should change banks, modern software can do it in less than a day, by transmitting the images (pursuant to the check truncation law).

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