Ack! My rent money has gone poof!

[Ravin]

So we tranferred 1K (most of rent) from my acct to DH's using his bank to do it, so he could write the rent check. Yesterday, they pulled the money back out and sent it back to my bank, and froze his ability to make transfers. Apparently, it was some kind of Patriot Act violation because we have different names on our accounts. (i.e., one's in my name and one in his). So, I went ahead and turned in a rent check out of my account.

As of this morning, though, that 1K hasn't reappeared in my account. Which means I'm going to have to call my bank and hopefully they'll cover it...ACK!

On the bright side, we got $450 in food stamps this month thanks to me being on unpaid maternity leave...so at least we can eat, even if the rent check bounces.

[crazyms]

Oh heck that's crazy. I would think it should show up today it just may have taken time for the transfer to clear. Also depending on the bank I would think that since the transfer was made before the check was written it should clear but some banks send all debits through before credits so that could be a problem. If you wrote a check though then I would think it should take a day or two before they deposit the check and their bank tries to clear it so hopefully it'll be okay. Grr just a pain.

[shahjehan]

When did you hand the rent check over?  You may have a couple of days until the withdrawal is taken from your account in which the 1K will reappear.  Stressful, I know.  Good luck!

[doubledutch]

contact your landlord (or the property management company) and ask them to hold it until the money hits your account.  just explain the situation and i'm sure they'll wait a couple of days, because they don't want the check to bounce either.

[Drummer's Wife]

I have two separate bank accounts and I know it takes a couple days for transferred funds to appear in the other one (when I transfer between savings and checking at the same bank, it's instantly).  It sounds like with them reversing it, it may add a few days?  I hope you get the money back in your account asap.  Do you have overdraft protection that will cover your rent check if your LL cashes it before the funds are back?

[Ravin]

Actually, I do have overdraft protection, I think, which would cost like $38 last time I checked...but last month it was like the 6th before the check cleared DH's bank, and the month before that it was the 4th when it cleared mine, so the management company don't rush their check deposits and we have a little leeway... DH thinks we'll be okay, but really I do not need this kind of stress right now. I need soothing baby birth vibes, not money stress!

[kristandthekids]

Originally Posted by Ravin 

Apparently, it was some kind of Patriot Act violation because we have different names on our accounts. (i.e., one's in my name and one in his).

What the what?
I used to transfer money to the fiance all the time. And when I had a roommate I paid the bills via transferring to his account. That's weird.

[Ravin]

I think it was because HE made the transfer via his bank from my account to his...which we set up using MY secure information which I put in, etc. Anyway, the money showed up sometime between midnight and 1:30 AM this morning (when I checked before going to bed), so WHEW!

Now nothing to worry about except having this baby...which is a financial worry, too, when it comes down to it. The longer he takes, the longer before I'm back to work...