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Check on hold.

March 21st, 2007 at 10:03 am

I figured that the balance transfer check I deposited today would be put on hold. I just didn't know for how long. The only other time I've deposited a large check it was from a Wells Fargo Loan to a Wells Fargo Checking account. It did take a couple days but not quite as long as this one will.

Deposited: $11,000.

$100 available now.
$4,900 available 3/28/07
$6,000 available 4/5/07

Ok, so it could have been worse. One of the things I plan on paying with this BT is a loan for over $8,000. So my plan of attack right now is...

Pay $5,000 on loan as soon as it's available (3/28). Once the rest of the money is off hold, call and get a 10 day payoff balance, pay off the rest of the loan and pay the rest of the stuff I had planned on paying with it.

I think that's the best senario right now. I don't know how interest is calculated on said loan but if it's like credit card interest the more I pay on it now the less I'll have to pay later. At least that's my theory.

1 Responses to “Check on hold.”

  1. Ima saver Says:

    When i closed on my spec house I got a large check for $390,000. They did the very same thing to me. I could have $100, then $4900 and could not have the rest for about 12 days. And the two banks were across the street from each other. It is annoying!!

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