Santander message at cashpoint "it takes two days to hit your account"

trinidadone

I tried to deposit at a ATM cash machine recently, and say the following message "it takes two days to hit the account" is this true??

Does it earn interest on the day of deposit, or in two days time?

Am I right the money is not available for 48 hours?


How long does cheques take?

Westie983

The envelopes are opened buy the cashiers the next day so it will be applied to your account then, and earn interest from then also.

Cheques take five working days not including the day you paid it in, and six working days for certainty of fate where it can no longer bounce and can not be removed from your account. interest is normally accrued from they its paid in so if it was a cheque you deposited the clearing cycle will start when the cashier pays the cheque into your account.

Ben8282

I very much doubt that the Santander ATM displayed any message using the term 'hit your account'

trinidadone

Westie983 wrote: »

The envelopes are opened buy the cashiers the next day so it will be applied to your account then, and earn interest from then also.

Cheques take five working days not including the day you paid it in, and six working days for certainty of fate where it can no longer bounce and can not be removed from your account. interest is normally accrued from they its paid in so if it was a cheque you deposited the clearing cycle will start when the cashier pays the cheque into your account.

thank you for the replay. what envelopes you referring to? Great to hear the money will be credited on the following day, just puzzled me about this two day message (it was displayed briefly). Thank you for letting me know about the cheque clearing via the ATM, that sounds like such a long time to clear.

No it was cash, but your response was really helpful, thank you

Westie983

Did you put the cash straight into the ATM or did an envelope come out for you to put the money into?

If thought all ATM's use envelopes but I have never used a Santander one so maybe they don't, either way it would have been processed today and should be available to spend as soon as it was processed as its only cheques that take time to clear.

Can only assume this message is shown as it depends on when you use the ATM to deposit, if its done at lets say 7am it will be opened at 9am and processed the same day, but if you use the ATM at 11am it wont be opened until 9am the next day, so that could explain the delay.

debsy42

I have deposited cash via the Santander machine, you pop the cash straight into the machine, it counts it up for you and confirms the amount on the screen to be credited which in my experience was straight away, no 2 day wait.