Business analysis, Project Management, Collections
Depending on the size of the deposits, your available account balance, and your account history, the deposited funds can be held as "unavailable" until the item deposited actually clear their issuing institution. Cash deposits should be available immediately, however if the deposits are made from checks written to you, the clearing process can take from overnight to longer for out-of-state or out-of-country banks.0 comments
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I worked in the financial services industry for almost 8 years. I held a Series 7 General Securities License...
More information is needed to address your situation, but I will provide some answers that I hope will assist you.
These questions can help to find a better answer to your problem:
Is your account a new, recently opened account?
Do you have a history of overdrafts?
When you say that Wells Fargo "hold[s]" your business account, do you mean that your account is at Wells Fargo or that there is actually a "hold/freeze" on your account?
What did you deposit (i.e., cash, checks)?
If you recently made deposits of checks, the funds may not be collected from the banks on which they are drawn. This would affect the availability of the deposits.
If you, or the teller assisting you, input the wrong account number on the deposit ticket or an account number for a closed account, this could be another reason why you are not seeing your deposits.
If you made your deposits on a non-business day (such as Saturday or Sunday), the deposits will not fully be processed until the next business day (Monday night). If you made your deposits "on the next business day" (such as a Monday, after 4 PM or so), your deposits would not be processed until Tuesday night, so you would not see them until Wednesday.
I hope I have helped provide you some insight, but I highly encourage you to contact Wells Fargo directly for assistance if you still do not see your deposits via Online Banking. Please call your local branch or the Wells Fargo National Business Banking Center (800) 225-5935.
Solving queries related to mortgage, online banking, general queries...
You can definitely try calling Wells Fargo customer service and they will be able to explain to you why your account1 comment