Money & Finance

I have information that’ll come in handy the next time you visit the bank. It’s a list of things your bank may not tell you, but you should know. We found this in Reader’s Digest.

• The first thing your bank may not tell you: Just because you deposited a check today doesn’t mean you can go on a spending spree tomorrow. It takes three days, on average, to post the money to your account. In other words, that giant check you deposited in the morning won’t help you if you spend a lot of money in the afternoon. After all, why should your bank hurry? If you bounce a check, they usually collect a fee. So, don’t spend until the money’s posted to your account. By the way, this can apply to CASH deposits, too.
• The next thing your bank may not tell you: Yes, we know the line is long and only one teller window is open, but no, the guy in the cubicle can’t come over to help out. Why? Because they may not be allowed to do a teller’s job. Just something to consider before you scream at cubicle guy for ignoring a long line.
• Call or visit in person to resolve a problem. Filling out online forms will usually get you the “by-the-book” reply, but a rep will often forgive a fee over the phone. Remember to be polite.
• Here’s something to keep in mind the next time you’re about to go ballistic because a teller is asking you to open another account: Tellers routinely press you into opening new accounts because their JOBS depend on it. Banks often hire “mystery” customers who secretly test whether a teller is cross-selling services.
• Post-dating a check rarely works. With stacks of deposits to process, banks usually look at account numbers and check amounts – not dates. If the check bounces, you’re liable. So consider yourself warned.