Gwen and I are leaving today on a trip to Spain.
We had written a rather large check from our investment account and deposited it in our regular checking account, so we’d be able to get at those funds from an ATM while abroad. When we made the deposit, we asked the teller if she could deposit it without a hold, and she said Yes. Sure enough, the next day, the money appeared in our account.
Then yesterday at about 4:30, I checked our account again and saw a negative balance. Uhhhhhhâ€¦
Frantic calling to the bank and the investment house resulted in conflicting stories. According to the bank, the investment house refused to honor the check (which is strange, since we’ve written checks against that before and had them clear, and there was enough money to cover it), so they were returning it; according to the investment house, the check was never presented for payment. If we didn’t resolve the situation in exactly 24 hours, we’d be in Spain with no ready way to get at our money (beyond what we’re bringing, which isn’t enough to last the trip).
Today I ordered a wire transfer instead. It looks like it has gone through.
As problems in life go, this is not big. It’s the kind of problem only a fortunate person can have. I bear all that in mind, but the situation still made me very angry and anxious.