Bb&T
B&T Online Mobile Banking holds funds for a week

Funds deposited through the mobile phone app takes more than seven days to clear.

I recieved a check for $1600.00 and tried to use the new mobile deposit app to put the funds into my account.

First, the program does not let you deposit more than $1000.00 per day. So, after going back to the check issuer to get two $800.00 checks... I used the progaram to photograph the front and backs and the deposit was made... That was on Wednesday evening...

Thursday, I checked out my deposit history and sure enough I had two deposits for $800.00 each... Now, it was time to wait until after midnight to get credit, right...?!?

Friday arrives and there's no balance in the account... I called the bank, they said, sorry checks deposited via mobile banking takes 48 hours to process...

Saturday, and we need to go shopping... $85.00 for groceries and I get a low balance alert on my phone...

Call the bank again... New customer service person and this time... It was..."We're sorry, mobile banking transactions can take up to three days to clear..."

Three days? I ask..."Yes, three days... Your deposit was deposited, effective on Thursday and your funds will be available on Tuesday..."

Yep! That's right three BUSINESS DAYS!!! Not three days... Like we live in... Three business days... in todays age of business banking and electronic reporting... Using a mobile phone app will tie your money up for nearly a week...

Oh, but it's convienient... And I didn'thave to drive to the bank to make my deposit... Oh, and the $5.00 I saved on gas... It cost me $105.00 in overdraft fees to cover the funds I spent of the balance that shows but is not in my account!

Company: Bb&T
Country: USA
State: South Carolina
City: Greenville
Site: bbt.com

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