I went to the bank the other day to deposit a check. I had seen a lot of ads and stuff for these new ATMs where you don't have to put your deposit in an envelope. Cool. So, assuming that this was the sort of ATM I was dealing with, I started my transaction without first putting my check in an envelope. Of course, I was completely thwarted by the ATM, which was not prepared to take my naked check. So my transaction timed out, I put the check in an envelope, and I started the whole thing again. This time, I was successful.
I came home and checked my balance. I saw that there was a credit for the amount of the check, a debit for the amount of the check, and another credit for the amount of the check. Though it didn't make any sense that it would work this way, I understood what it meant. But then I saw that there was a discrepancy between my "present balance" and my "available balance." Specifically, the discrepancy was in the amount of $291.00. That was not the amount of my deposited check. I quickly checked my "pending" transactions to see if they added up to $291.00, thereby explaining the difference. They did not.
I looked up the number for my local branches. I found the one for the branch I usually go to but, realizing that things might get ugly, I called another branch. I explained the situation to the woman that answered and asked if she or someone there might be able to explain the discrepancy to me. She said "Well, have you recently made a deposit?"
"Yes," I told her.
"That's probably it," she said.
"Oh yeah? But my deposit wasn't for $291."
"Oh right, I see that. Well, sometimes a percentage of the check is made available immediately, and then the rest becomes available after the check clears."
"That makes sense, except $291 isn't a round percentage of my deposit. It's not like it's 5 percent or 10 percent, you know?"
"Yeah, I see that. Well, then it must be the pending transactions."
"Yeah, but those don't add up to $291."
"It looks like one of these was a restaurant. Did you write a tip on top of the total?"
"Yes, but it still doesn't add up to $291."
"Huh. Let me get someone else--I don't usually deal with these sorts of situations."
So she got someone else. I could hear her talking to him in the background. They kept trying to come up with an answer but, eventually, they told me that they had no idea and that I should call the 800 number. I thanked them sincerely--they were polite and they tried to answer my question, even though they failed--and dialed the 800 number.
Things got sort of ugly at that point.
The woman I got was immediately confrontational. I calmly explained my problem. She said something like "Well, sometimes available and present balances are different. Just wait for things to clear." I told her that I understood that they're sometimes different, but that I would nonetheless appreciate it if she could explain to me why the difference between my two accounts made no sense. She refused to admit that there was a problem.
"Well, you recognize that there's a difference between the two balances?," I asked.
"Yeah, I see that."
"And what is that difference?"
"I don't know, sir, I'm not your bookkeeper."
"Ok, but you can subtract the two numbers, right?"
"I don't have a calculator, sir."
"I do. The difference is $291."
"Ok. So what's the problem, sir?"
"No one has been able to explain to me why that's the difference between the two balances."
Then she walked me through my recent transactions, having me subtract those transactions from my last known balance. We arrived at the larger of the two balances, which I knew to be correct. She seemed very satisfied with herself. But she had nothing to say when I asked her why the two balances were showing up as completely different. She put me on hold.
Eventually, she came back and gave me a little bit of an answer. When you deposit a check, it is apparently my bank's practice to make $100 instantly available. Since I made two deposits, I was automatically credited $200, even though the first deposit was immediately voided. The "present balance" was the amount of money I would have after the check cleared. The "available balance" was the my previous balance plus these two automatic credits. Again, the woman seemed pleased with herself. Then I pointed out that her explanation explained a large portion of the discrepancy between my balances, but still left a $9 difference unexplained. She literally said "Well, I know you're not going to go back and forth with me over $9." This set me off.
I told the woman that all of my money was in her bank--both my personal and business accounts. I told her that, while I was sure things would get sorted out eventually, I found it disturbing that neither she nor anyone else in her organization was able to give me a clear, concise explanation for the discrepancies in my balances created by their accounting practices. I told her that the discrepancy now might be $9, but that I had no reason to believe that it wouldn't be $900 in the future. She put me on hold again.
Eventually, she came back and told me that the extra $9 was a "courtesy" in case I used ATMs from banks other than mine. I didn't even know what that meant, but I accepted her explanation because I was sick of the conversation and I thin chelsadilla was sick of listening to it. So I asked her what my balances would be when all of these transactions fully posted. She said they would be "the same." When I pressed her as to which would be the same, she said both. Then she corrected herself and said the higher balance was correct. Then I hung up on her.
Am I the only one who thinks it's disturbing when a bank can't give a clear explanation for how they arrived at a given balance? Fuck, I hate banks.