Now, another thing to keep in mind is that even if some or all of your deposit is available in your account, it doesn’t necessarily mean that the check has cleared. Then the individual check amounts will be posted to each account. The clearing house will sort all the transactions coming from one bank to another and send the correct amount of money to each. But many others will send a check through an intermediary called a clearing house in order to process it. Some large banks work directly with each other to clear checks. When you deposit the check at your bank, they will send the check, or an electronic image of the check, to the payer’s bank. When you deposit a check at a bank or ATM, it can take a little more time because your bank needs to collect the funds from the payer, whose account might be at a different bank. That means that the processing-making sure the account that the deposit is coming from has enough money to cover the transaction-can also happen in advance. That’s because the bank that the deposit is coming from will schedule a credit to your account through your bank in advance. Scheduled direct deposits from a payer-like your employer-are usually available in your account on your regular payday-or the following business day. That’s because ATMs now automatically count the bills you insert, rather than waiting for tellers to verify your deposit later. If you deposit cash using your bank’s ATM, you’ll typically be able to access your funds right away. Your teller will be able to let you know. If you make a cash deposit with the teller at your bank, the money will often be available in your account immediately, or the next business day, depending on your bank’s policy. Why the difference? Well, it often has to do with the way banks process different types of deposits. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review the Bank of America Online Privacy Notice and our Online Privacy FAQs.You may have noticed that when you deposit money into a bank, sometimes you have access to that money right away while at other times it might take a few days before it becomes available for you to use. These ads are based on your specific account relationships with us. In addition, financial advisors/Client Managers may continue to use information collected online to provide product and service information in accordance with account agreements.Īlso, if you opt out of online behavioral advertising, you may still see ads when you sign in to your account, for example through Online Banking or MyMerrill. If you opt out, though, you may still receive generic advertising. If you prefer that we do not use this information, you may opt out of online behavioral advertising. This information may be used to deliver advertising on our Sites and offline (for example, by phone, email and direct mail) that's customized to meet specific interests you may have. Here's how it works: We gather information about your online activities, such as the searches you conduct on our Sites and the pages you visit. Relationship-based ads and online behavioral advertising help us do that. We strive to provide you with information about products and services you might find interesting and useful.
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