Is the bank holding my refund from school?
I recently got an email from my school saying that my refund of $2775 is direct deposited successfully into my bank account. I also got another direct deposit from the same school just different loan for $98 so there woukd be no reason for an accidental mix up bwyween another students bank account and mine. This went through however the $2775 didn't. I'm having to use my iPhone for all of my school work and it's beginning to be a hassle, therefore I needs the money to get a new computer. Wasn't sure if the bank was holding this $2775 for some reason or another. My school said it was successfully direct deposited on march 7, should I wait until Tuesday to call? Or call Monday? I know there's nothing the school can do about it because it said on my student website that they refunded the funds back to me and don't have them, so this would be a bank issue. Please give me some input about the situation! All answers are great appreciated!
Direct deposits and checks take two full business days to clear before you can spend the money.
http://en.wikipedia.org/...bility_Act
Sometimes large deposits get held for a few days to clear through the bank, usually takes 3-5 days to clear it. It may be a bank issue, give them a call and let them know about what is going on, you may also want to contact the student website and make sure every thing is ok on that end too.
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