Is cash immediately available in your bank account after it is deposited?

I have to pay a bill on Monday and can't deposit and clear a check in time...if I cash the check and deposit the cash into my bank account instead of the check, will it be any quicker?

Is cash immediately available in your bank account after it is deposited?
It depends on the bank policy.





My old credit union would post cash immediately, but my new bank waits until the next day if they get it after 1PM.





However, my new bank lets me have money orders and cashier's checks, for free, and you can get them immediately for cash to pay your bill. Even if they charge you $1.00 for a money order, it will be much less than a late payment penalty and you won't have the risk of a check bouncing.
Reply:As soon as you deposit cash, it is available for withdrawal or other banking transactions. Cash never has to clear.
Reply:Yes, if both your accounts and the check issuer have the same bank. That way, his/her money is already taken out from his/her account other then taking couple days to clear. There is always a chance that some other items that would go thru before your check. If they don't keep good track of their money and balance, your check can still bounce.





NO, if you both don't have the same bank. Then the quickest way is go straight to the bank where the money is drawn from (hopefully they have money to cover the amount they wrote you) and not your own bank. People get the false sense that if they go to THEIR own bank and cash the check, then do a deposit the cash is available IMMEDIATELY. It is ONLY true when you brought in cash from somewhere ELSE (like someone gave you cold hard cash). Because when you cash checks at your own bank, there is a recourse and might be a hold due to your own account standing with that bank. The recourse is even you can withdraw the cash you just deposit from cashing the check, if the check is NO GOOD, the bank will deduct the amount from your account few days after you cash it. So if the check is from different bank, go straight to that bank to cash it, then deposit to your own bank account. TO IT TOMORROW - some banks are open on Saturdays.
Reply:It depends like others said on the bank and its policy both in general and specific to the account holder.





What the bank is trying to prevent is someone cashing/depositing a bad check and then that check come back NSF or other status that will prevent that demand instrument from being honored.





I know that most banks after a deposit will set aside a portion of the funds for immediate use for a certain period of time. It can be as little as 1 day and as long as say 10 days before the non-available portion is available for use.





Some banks too will vary that wait time during the floating period based on how new the account is. New account holders are often viewed as more risky.





I would check with your bank with regards to its specific policy. Most major banks have a 24 hour customer service line you can call and inquire on this policy.





Good luck.
Reply:You need to ask your bank.





Some banks credit your account instantly, others overnight.
Reply:It depends on which bank you have. With my bank, if I have the amount that i deposit, then I will get it the same or the following day. However, if I am depositing the check and it is on the amount that I already have in my account, then it will take about three to five days in oder for me to see it.
Reply:Yes, but the bank may not give you cash. It usually depends how much cash you have in your account. As an example if you have an account balanceof $2000 they will cash a check up to the $2000. If you only have a balance of $500 they may not cash a check of anything over the $500. A lot has to do with how long you have had your account and if you have had any overdrafts.pp
Reply:No....It is not...sorry
Reply:it depends on the bank. most banks are that way but you have to use a teller. do not deposit through the ATM machine.
Reply:yes, cash should be instantly available as long as its not deposited through an atm machine. Use a teller.
Reply:yes,


It should post instantly as long as you make the deposit inside a branch office.





If you do it at an ATM it may take until Monday morning to post but it should still post way faster than a check.
Reply:Since its now Saturday, any deposit made during the weekend will not post until Monday (next business day).
Reply:Cash is immediately available.