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leftieNanner

(15,150 posts)
3. And Let's Now Include
Sun Mar 14, 2021, 10:00 PM
Mar 2021

The FLOAT that Chase and Wells Fargo will get by holding all that ARP money and not depositing it into customers' accounts until the 17th.

Ocelot II

(115,856 posts)
5. There is no float. The government is depositing the funds in people's accounts
Sun Mar 14, 2021, 10:43 PM
Mar 2021

on the 17th. Banks are not holding the funds until the 17th; they are being directly deposited from the treasury on that date.

 

Hoyt

(54,770 posts)
7. If you have insufficient funds and the bank doesn't pay, not sure they charge
Sun Mar 14, 2021, 10:59 PM
Mar 2021

an overdraft fee.

If the bank went ahead and paid say your rent — throwing you into overdraft but essentially loaning you money — seems to me a REASONABLE fee is fair unless you’ve selected to cover it with a savings account or credit card. I know folks get caught sometimes when a deposit is delayed, you can often get any fee reduced.

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