Still waiting on my security deposit... what should I do?

I recently moved out of state, and my old property managers are dragging their feet. They told me they direct deposited my security deposit three business days ago, but when I called my bank, they said there’s no sign of it. I’m between jobs right now and really need that money. Usually, my bank shows pending transactions, and I’m starting to get worried. Any advice would be much appreciated.

If there are no holds on your account, this might be a bank issue, but your property manager should have proof that the payment was processed. Banks will post the deposit once it arrives. Make sure you keep asking for that proof.

@Budget
They sent me a cropped receipt, and I’m almost sure I got all my bank info right. I don’t think I messed up my account or routing number.

Blunt said:
@Budget
They sent me a cropped receipt, and I’m almost sure I got all my bank info right. I don’t think I messed up my account or routing number.

They might have sent it using another method, not ACH, which could explain the delay. Keep following up, especially if your bank says they don’t see it.

@Budget
They said it’d take 3-5 business days, but I was expecting to see it pending by now. Could it be that their bank is still processing the transfer? The ‘receipt’ they sent didn’t even show my account number.

@Blunt
ACH deposits usually don’t have long holds. As long as the names match, it’ll post when the bank gets it, typically between midnight and 6am. It’s not likely that the bank would show it as pending days in advance.

@Budget
Thanks, that clears things up a bit. I don’t really know how these transfers work. It’s supposed to be direct deposit, so I don’t know if that makes a difference. I’ve heard that larger checks sometimes take longer (like over $200 or something).

I had a similar issue when I wired money to my daughter. It was supposed to be quick (an hour or so), but it didn’t show up in her account until late afternoon. Sometimes even transfers that are supposed to be fast take a while.