Hello, I am a general contractor, and a customer paid me $4500 in cash. I took it to the bank and deposited it around 12:30 pm yesterday. When I checked my balance this morning, the deposit was not there. I bank with US Bank, in case that matters.
Banks may retain your funds for a maximum of two business days following the deposit date.
Cash deposits ought to be immediately reflected and made available. Do you possess many bank accounts there? See whether it was inadvertently placed into another account. Is the deposit receipt still with you? Return to the bank and work things out.
Deposits of cash should show up right away and be usable right away. Do you have more than one account there? Make sure it didn’t get sent to the wrong account by mistake. Have you kept the cash receipt? Go back to the bank and ask them what’s going on.
Naah Chloe, I don’t think this is true… or maybe it is, but NOT for all banks. Usually, if you deposit cash in person with a bank employee, the funds should be available for withdrawal by the next business day, that is, at least 24 hours after the deposit was made.
Banks typically let you withdraw cash you deposit in person by the next business day. This might take longer if you don’t deposit the cash directly with a teller.