This is more out of general wondering than anything else. My wife and I opened a joint checking account in early November. I have direct deposit, however, at this point in time, she does not. I have been with Bank of America since 2001. In the past year at least, I have been depositing her paychecks via ATM into my personal checking account. As long as I deposited it before the cut off (it was 6 PM, now it is 8 PM), the check was posted/cleared and funds were available at 12:01 AM the next day. However, my wife deposited her paycheck on a Tuesday morning. The date of the check had the date of the deposit on it. She used a deposit slip and went into the branch. The check posted at 12:01 AM Wed. morning, but the funds were not available (actually, 100 bucks were available).
I have been going back and forth on mail w/BoA and they said it says on the receipt that the funds won't be available till 2 days after the deposit was made, and after 5 PM. My wife said that the receipt does state the date, but no time. Is this legal to do with a payroll check? This has never happened before, and I am wondering what people think is the real issue. I can't find anything in the agreement we got as a welcome package that mentions holds. I always thought it depended on the amount (the amount is under 4 figures).