First Bank of Owasso

[KOPBET]

TTCU Owasso

 

[Matt Basterson]

second all the recommendations for credit unions, i don't use banks anymore. period.

 

[AKguy1985]

You might be able to call the bank manager and ask them to call and clear the check to release the funds. I'll bet they will do it. That's the true measure of their customer service. The rest is just policy crap.

I tried to talk to a manager yesterday and I got on the phone with some lady who put me on hold and talked to the manager for me. Apparently this bank holds checks for 7 business days regardless of who or where its from. The woman told me "Well we hafta get our money" "Those criminals are getting better at forging checks" Uhhh well there's no funny business here!

 

[tRidiot]

Nowadays this is becoming a very common practice. It's annoying as hell to say the least. However, checks can clear electronically in less than 24 hours. Your bank has instituted this policy to allow extra time for forged checks to be "caught" by the remote institution. Used to be, your bank would just come back on you for such a check that was later denied, but these days with all the fraud going on, people are opening new accounts left and right, cashing a few checks and then bolting, never to be heard from again.

Sucks. I don't know any good way around it. I have a personal contact at my local bank I usually call and he makes sure my check gets cleared and I don't have to wait the 5 days my bank wants me to.

 

[vvvvvvv]

Your bank has instituted this policy to allow extra time for forged checks to be "caught" by the remote institution. Used to be, your bank would just come back on you for such a check that was later denied

This. Not fun getting paid $3K by check, paying your tuition and books and other college crap, only to have the check bounce and you now be $2700 in the hole all because someone on a .gov or .edu salary mistyped an account number.

My current bank makes $100 for every $1K available immediately and most checks clear in within 48 hours. I did have a recent one that took a week to clear, but I understand why and every single one from that client since has been released in full same day if deposited before 3PM and at 8AM if deposited after 3PM.

 

[Old Fart]

While I wholeheartedly believe they brought it onto themselves.
Most banks are dealing with many more restrictions than before.
I'd think a credit union might be a logical next step.

 

[mr ed]

I've been with BOK for 25 years.No fees of any kind,no minimum balances.If you've been paying fees you haven't talked to an account manager.

read your mail. BOK sent out notices last week telling that if you don't keep a minimum balance of like $1400 they are going to start charging $7.95 a month Obama bailout fee.

 

[Sam Shoun]

If your financial institution has "Bank" at the end of their name instead of "Credit Union", you're doing it wrong.

This. I can't believe I ever wasted my time/money at a bank.

 

[Glocktogo]

I tried to talk to a manager yesterday and I got on the phone with some lady who put me on hold and talked to the manager for me. Apparently this bank holds checks for 7 business days regardless of who or where its from. The woman told me "Well we hafta get our money" "Those criminals are getting better at forging checks" Uhhh well there's no funny business here!

Checks clear faster than ever these days. By keeping your money an extra few days, they get more "float" on it. The float is what a bank makes money off of regardless of transaction type. As long as it's in their account and not yours, they get interest on it.

 

[inactive]

read your mail. BOK sent out notices last week telling that if you don't keep a minimum balance of like $1400 they are going to start charging $7.95 a month Obama bailout fee.

I have not received any notices, in the mail or electronically (I receive electronic statements). In fact, my account type - Free Checking 2.0 - isn't listed as being offered/available on the website any longer. I have not been charged any fees to date.

This happened to be before (at a credit union I used to use), and they grandfathered those with old, free accounts. Any chance BOK would do the same?