Question for all adults...

[CAnderson197]

So, I got a real scare today, I thought I was going to bounce a check so I got money from my mom and deposited it in the bank. My checking account balance when they gave me my receipt for deposit said -$4.51, but when I check it online it says I have $99.00, and when I call it says I have $58.93, with getting three different figures, do you guys think I bounced a check?

 

[kp2001]

Can't say for sure. Checks are tricky these days because most places turn them into electronic transactions by scanning your check and your checking account is deducted at that time, a la debit card. This is a fairly recent change (last few years) and has come to prevent what is known as Kiting. The days of writing a check and having several days to put funds into your account to cover the check are mostly over.

The best way to see if you bounced or not is to figure out how much was in your account prior to the check, subtract how much the check was for and then add back what the deposit was. If there is any money missing they probably charged you a fee to cover the check. If there isn't any additional money missing you might be in the clear.

Best of luck.

 

[kpmom2011]

Agree with KP on that. The difference in the balance is that you may have some "holds" on your account. That is an amount that is deduced from your "available" balance but not taken from your account yet. None the less get money in there to make sure you don't bounce a check. You do not want that on your financial record!

 

[CAnderson197]

Now both figures (Online and Phone) say that my available Balance is 93.00

 

[Just_A_Mom]

Just to add to the above - if you are using a debit card on your checking account, sometime purchase will put a "hold" on your account. This is very common at gas stations when you pay at the pump. Scan your debit card and a $50 hold might be put on your checking account even though you only spent $10 (for 3 gallons - haha). It can take a couple of days for the hold to go away. Depending upon the bank this can cause an account to go negative and a check to bounce.
If I were you I would visit your branch, get a print out of your recent transactions and get them to explain to you the movement involved.
One dirtly little secret in the banking industry - if you "bounce" a check because of the hold they will often honor the check but charge you a hefty overdraft fee.

Learn how your bank handles debit card holds. Balance your account each month.
Becoming savvy in your financial matter will save you lots of headaches and money in extra fees.

 

[CAnderson197]

Oh I'm aware of those nasty NSF fees. I called the bank today and they just told me that the receipt I got from my deposit was a mistake, and that I never actually had -$4.51 in my bank account.