Today, I walked in the downtown San Diego branch of Wells Fargo bank to make a cash deposit to my daughter's checking account because she needed to purchase some books for the first week of school. We both bank at the same bank. I had no checks with me so I asked for a withdrawal slip and proceeded to fill out a cash withdrawal of $xxx. Xx. I then filled out a deposit ticket with my daughter's account number and filled out "Cash" deposit of $xxx. Xx.
I should point out that my account had adequate collected, available funds for the cash withdrawal. When I handed the teller the deposit ticket he said, "it will be credited as a check".. I said "wait a minute", "I am giving you cash, not a check, and I expect it to be available immediately as cash". He seemed confused as if I were making some outrageous demand. He said he didn't know if he could do that. At that point I told him he should figure it out so that the deposit would show as cash on my daughter's account so she could use her debit card to buy her books. Then he said, "ok", I will make the funds available... I was very confused as to why the funds would NOT be available since I was depositing CASH.
I am sure other unsuspecting depositors have had this same thing happen to them and maybe even incurred some fees due to funds not being available until the next business day as a result of tellers counting cash as "a check". I don't think this is right and probably not legal for wells fargo to unilaterally decide to treat us currency as "a check". Depositors need to be aware that this and insist on being credited accurately and fairly for the funds they deposit.
Thank you for the opportunity to share.
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