My bank has an online explanation of these $600 distributions which states distributions will begin AS EARLY AS JANUARY 4TH.
Obviously, the Treasury Department’s electronic distribution payment lists have already been delivered to the financial institutions but some, like my bank, are not making funds available until next week.
This begs the question: “Have the financial institutions already received the funds or have those financial institutions which have posted the payments to individual accounts actually ADVANCED the funds before government settlement payments?”
The reason this matters is the federal funds distributions amount to many millions of dollars PER BANK and thus the banks could be sitting on the money for days without permitting account holders to use the money to the benefit of the bank’s bottom line.
Yes, that's describes the scam perfectly. It's not just federal money, any deposit or transfer will get this treatment. With today's technology, any transfer can happen almost instantly. PayPal is a perfect example. If you want to transfer money from PayPal to your bank, that will take days. If you want it instantly, you can have it but they will charge you a 1% fee. I recently transferred money from one bank to another and there was no fee but it took a week for it to happen.
my bank has it a pending transaction, as today is a holiday and a weekend, guess we have to wait till monday