So angry at my 401k!

[Olivia23 68]

Well I am supposed to have sleeve surgery on June 10th, and I am choosing Dr. Garcia. I told the coordinator that I would pay the deposit on June 4th because I thought that once I borrowed from my 401k, they would deposit into my account the next day. Not so!!! They still mail checks! WTF!!!

Now I don't know what to do. Of course I am going to let my coordinator know but I still cannot purchase my airline tickets without this money! Last time I borrowed from my 401k (5 years ago), my bank tried to make me wait 14 days until the check cleared because they wanted to make sure they check was good. I have been with my bank for over 15 years and I have a feeling my bank will try to make me wait again. I have to have the surgery that week because that is when I am already scheduled off of work! So angry!!!!

[FatGirlSlim 115]

Once you get the check, can you take it directly to whatever bank the plan uses and cash it out versus depositing it,... assuming its a bank that is local.

Sorry that you are having to deal with this... I hope that there is something that can be worked out asap

[jensjoy28 351]

Definitely take it to the bank and ask to talk to a bank manager. They have contacts at many different banks and can/will often verify funds so that you don't have to go through the bank hold period that happens for larger checks. I did that when I got my loan check from credit union and it worked perfectly :-) good luck.

[Olivia23 68]

Definitely take it to the bank and ask to talk to a bank manager. They have contacts at many different banks and can/will often verify funds so that you don't have to go through the bank hold period that happens for larger checks. I did that when I got my loan check from credit union and it worked perfectly :-) good luck.

Thanks. I will definitely try that.

[LisaLoseAlotx2 147]

you can do a direct deposit, but you would still have to wait five business days for the transaction to be cleared.

[LisaLoseAlotx2 147]

Also. I would explain to Alma and Ana what is going on. Keep them in the loop so you can keep your date

[Olivia23 68]

you can do a direct deposit' date=' but you would still have to wait five business days for the transaction to be cleared.[/quote']

There was no option for direct deposit. If course I did it online so I didn't talk to anyone to see if it was an option.

[Belledebayou 62]

As a personal banker, I can tell you that a bank will place it on hold because they are not always paid. With that said, since you've been with them for so long, ask them to work with you. Ask for a portion and then see of they will release some of it early. Go to someone that you work with on a regular basis.

[msslechix 32]

It's happened to me before. Just go directly to the bank and deposit it as cash. I had the funds available the same day. They tend to treat Treasury checks a little better.