May day, Pay day!

Posted on December 16, 2004 2 Comments

Here’s something I wasn’t prepared for:

I am in the process of closing out an account with my old bank (TCF Bank) and opening an account with my new bank (WaMu). I just switched over my direct deposit from payroll, but couldn’t make it in time for the December 15 pay date at my work. Yesterday, the office finance guru handed me a payroll check.

Payroll checks generally freak me out to begin with because each one contains everything I’ve worked for in one tiny piece of multicolored paper, a sheet that can be easily stolen or swept up in a big gust of wind. I usually imagine myself standing in the middle of Michigan Avenue, steps away from my bank, traffic quickly swerving all around me, snow falling and wind blowing, I’m crying out loud and jumping up and down, arms outstretched as my check sails away into the blustery night sky. At this point, someone usually pushes me and I cross the street, arriving safely at my destination, daydream abandoned.

This time I made it to the bank, check in hand, and deposited my pay check, only to be told by the teller that my money wouldn’t be available for nine business days, on the 29th. NINE DAYS? This has to be a joke. I have to go from now until almost New Years with no available cash? I’m suddenly in panic mode, but aware I have to go to back to the office. All I can do is blink.

“Excuse me, did you say nine days? That means I don’t have a paycheck until Dec. 30? What am I supposed to do until then?,” I thought about asking. Thoughts of a presentless Christmas swirled in my head. Silent panic mode continued, though. I said nothing, walked calmly out of the bank, and vowed to check my balance with TCF right away. I still haven’t done it. I’m afraid at what I might find out.

I’ve learned two important lessons from today’s events. First, silent panic mode sucks. I wish I could speak when I realize something’s going horribly wrong. Later tonight, silent panic mode will most likely turn into no-sleep mode, where I toss and turn all night long in a cold sweat. Second, when switching banks and turning over a direct deposit account, be sure to plan in advance for it. I’ll be floating expenses on my absurdly high-rate credit card for two weeks, including all my holiday gifts. When the bill comes, I will pledge to survive on Ramen Noodles because I obviously can’t afford to cook much more. Proper planning probably could have prevented this situation.

I’m headed to TCF to check out my balance there. Wish me well, dear readers.

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