Why do banks hold checks for a week?

Advertiser DisclosureThe Time It Takes for a Check to Clear at Top BanksLearn how long it takes a check to clear at the top banks and when check deposit funds will be available for

Why do banks hold checks for a week?

Advertiser Disclosure

The Time It Takes for a Check to Clear at Top BanksLearn how long it takes a check to clear at the top banks and when check deposit funds will be available for withdrawal. Find out when and why funds are held for clearance and what happens with post-dated checks, money orders, cashier's checks, and more. See tips on how to get your money on time.

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Theresa KimUpdated: Apr 22, 2022

Chase Bank ATM Check Deposit

Chase Bank ATM Check Deposit

MyBankTracker examinedfactors that determine how long it takes for your check to clear and what you can expect after you make your deposit

Time It Takes For Checks To ClearType of CheckTime To ClearFund AvailabilityRegular Checks At An ATM or Branch TellerReceive a deposit receipt with the date and time of when the check will be cleared and the hold time (if any)Can expect funds in 1-2 business days unless it is an unusually significant amountCashier's ChecksCan clear on the next business day, unless a bank suspects there might be fraud, then could be several weeksCan be available on the next business day in most casesMoney OrdersCan clear on the next business day, unless a bank suspects there might be fraud, then could be several weeksCan be available on the next business day in most casesMobile Check DepositsReceive a deposit receipt with the date and time of when the check will be clearedSimilar to regular checks, you can expect funds in 1-2 business days unless it is an unusually significant amount
(Note: you may be limited to the amount you can deposit through mobile check deposits)Post-Dated ChecksBanks will accept post-dated checks immediately and begin to process them like they would for any other regular check
(Note: be aware of possible insufficient funds fees as the payer or returned deposit fees as the payee)Similar to regular checks, you can expect funds in 1-2 business days unless it is an unusually significant amount

Regular Checks at an ATM or Branch Teller

After making your deposit at an ATM or at the branch teller, you will receive a deposit receipt with thedate and time of when the check will be cleared and the hold time on the check, if any.

A hold time refers to how long the check will be placed on hold, and banks use many factors to determine this, including your account history and account balances.

The actual time of how long it will take for the check to clear won't stray too far from the expected time presented on the deposit receipt.

You can expect the funds to be available as indicated on the slip, which is usually 1 to 2 business days, at most, unless it is a significant amount.

Chase Check ATM deposit

This receipt was from Chase for a deposit that was made. As you can see, the check deposit will most likely clear the next day, but it also states that there could be a delay.

Large Deposits Vary Based on Customer Relationship

The policy for very large deposits varies by bank.

We spoke with a banking representative at Chase Bank, who better explained their policy to us.

The rep explained that the speed of the check deposit also weighs heavily on the banking relationship the customer has with Chase.

Let's say Chase customer John Doe is in good standing with the bank and normally keeps a high balance in his account and wants to deposit a $10,000 check.

The rep told us in this case, the check would probably clear the next business day.

However, if John normally had an average balance of $1 in his account and tried to deposit $10,000, Chase would probably put the check on hold (for up to 10 business days).

Also, if John showed regular overdraft activity and had a number of returned deposits, it would also delay the clearing of his check.

For all accounts other than Chase Analysis Business Checking (with or without Interest): Wire transfers, electronic direct deposits, and cash deposits will be available on the day Chase receive your deposit.

Except when you make other deposits, the funds are available on the first business day after the day we receive your deposit.

In most cases when you deposit checks drawn on a Chase account:

  • At a teller station, funds from these deposits made with an employee will be available on the same day we receive your deposit
  • At an ATM, some or all funds from these deposits will be available on the same day we receive your deposit

Once funds are available, you may withdraw them or use them to pay checks and other items.

Cashier's Checks

The rules are different when it comes to cashiers checks.

The good news is, it is more secure than a personal check, as the funds are held by a bank.

Therefore, the verification process from the paying institution is curtailed significantly, making it possible for most banks to have the funds available to you by the next business day, in most cases.

Not surprisingly, a cashier's check from the same bank that issued it is likely to deposit much more quickly that one that is issued by a different bank.

The bank would be able to verify the funds much quicker.

This is unless the bank suspects the cashiers check to be fraudulent -- at which time, it may still take up to several weeks to verify the check.

Money Orders

Money orders are very similar to cashier's checks.

They are frequently bought through the United State Postal Service, Western Union, MoneyGram, and financial institutions.

When a money order is deposited at a bank, the bank collects the funds from one of these institutions.

The time it takes for money orders to clear will be similar to that of cashier's checks -- so one business day.

Like other forms of payments, money orders can be fake and used to scam unsuspecting people. So, a bank may take longer to clear the money order if it believes fraud is involved.

Mobile Check Deposits

Ally Bank Check Depsoit

Ally Bank Check Deposit

With the ability to deposit checks through smartphones, you may expect different rules for them.

However, mobile check deposits will clear in roughly the same amount of time as a regular check deposit made at an ATM.

You're submitting a check image for reviews -- similar to what happens when you submit a check at the ATM.

Note that your bank will have limits on the amount that can be deposit through your smartphone.

Post-Dated Checks

People often write post-dated checks with the expectation that they're deposited at a later time.

This practice may be usedwhen sufficient funds are not available yet.

The post-dated check acts as an agreement to pay -- with the expectation that the recipient doesn't deposit it until the date written on the check.

Although you may think that the bank won't process a check deposit until the date written on it the check, that's not the usually not the case.

Generally, banks will accept check deposits even if they're post-dated.

And, they'll begin to process them immediately and it will follow the same procedure as a regular check for deposit clearance.

If there aren't enough funds in the accounts, the payer will get hit with a fee for insufficientfunds. Meanwhile, you (as the payee) may be charged with a returned deposit fee.

When Funds Are Delayed

In some cases, Chase may not make all of the funds that you deposited by check available by the first business day after the day of your deposit.

Funds may not be available until the second business day after the day of your deposit.

However, at least the first $200 of these deposits will be available on the first business day after the day of your deposit.

If you will need the funds from a deposit right away, you should ask us when the funds will be available, but further review of the deposit after we receive it may still result in delayed availability.

For all accounts: Funds you deposited by check may be delayed for longer than two business days under the following circumstances:

  • If bank believes a check you deposited will not be paid;
  • You deposited checks totaling more than $5,000 in any one day;
  • You redeposited a check that has been returned unpaid;
  • You have overdrawn your account repeatedly in the last six months; or
  • There is an emergency, such as failure of communications or systems.

If the bank delay availability for one of these reasons, funds may not be available until the seventh business day after the day of your deposit.

If your check deposit is made with one of the employees or at an ATM and decides at that time to delay your ability to withdraw funds, they will tell you then.

If a bank decides to delay the availability of your funds after you complete your deposit, the bank will mail you a deposit hold notice.

Holds on Checks

In the case that the check cannot be cleared, a hold is placed on the check and it will be resubmitted for approval. This will prolong the process.

Other reasons for a delay may be due to insufficient funds or a frozen, blocked, or closed account.

Related: What Happens When You Deposit a Post-Dated Check Early?

However, if nothing looks out of the ordinary, your bank should receive the funds from the paying institution within 5 business days -- at which time the check will clear.

But keep in mind that even if your bank is still waiting for the money from the paying institution, they can still release the funds to be available to you. This is called fund availability.

Fund Availability vs. Time It Takes For a Check to Clear

Many bank customers may confuse the terms "fund availability" with the "time it takes for a check to clear." They are two separate terms.

Even though the deposited amount may be partially or fully available to you, it isn't yours until the check completely clears at the bank, because your bank may not have received the funds for it yet.

The fund availability policy that your bank means that you don't have to wait for checks to fully clear before getting access to at least a portion of the deposited amount.

How much is available to you after a check depositBankWhen funds become available:Bank of AmericaThe first $200 of the check amount is available for cash withdrawal no later than one business day after the deposit.Wells FargoThe first $200 of your deposit is available on the first or second business day after the deposit.ChaseAt least the first $200 of the check deposit will be available on the first business day after the day of your deposit.CitibankThe first $200 of your total deposits will be available immediately on the business day of the deposit. Deposits of $5,000 or less usually clear within 3 business days. Deposits of more than $5,000 usually take 4 business days to clear.U.S. BankThe first $200 of the total check deposits will be available no later than the first business day after the deposit, usually available immediately.Capital OneThe first $200 of your deposit will be available on the first business day.PNC BankThe first $100 is available on the evening of the day of the deposit. An additional $100 is available on the first business day after the day of the deposit.TD BankThe first $100 is available on on the same day of the deposit. An additional $100 becomes available no later than the first business day after your deposit.BB&T BankThe first $200 of your deposit may be available on the first business day after the day of your deposit.SunTrust BankThe first $200 of each days total deposits will be available on the first business day after the day of the deposit. Additionally, up to $400 of a deposit of local checks is available at 5pm and after on the 2nd business day after the deposit. The remaining funds of the deposit of local checks will be available on the 3rd business day following the deposit.

Most banks will generally provide the depositorwith at least $200 for immediate availability after a check deposit is made.

Also, when you're using your online banking to your funds, you may see two different figures listed for "account balance" and "available balance."

The available balance indicates the amount you have to use at your disposal and the account balance shows the total amount you have in your account -- including money that has yet to clear.

Wait a Few Days Before Contacting Your Bank

Try waiting a day or two before you call your bank.

Keep in mind business days are Monday through Friday, and non-business days are on the weekend.

Holidays can also slow down the hold time on your check because they are not considered business days.

It will usually take a day or two for your check to clear.

But if it doesn't clear in that time, it's most likely due to an issue with the paying institution (where the check came from), your account history, account balance, or check amount.

You know your banking history better than anyone else.

If you've consistently bounced checks or overdrawn your account, you will have an idea of why that check for $5,000 isn't clearing within the average amount of time.

Business Day Cutoff Times

It is important to know what a bank considers to be the cut-off time for a "business day."

If you deposit a check after that time, it won't begin processing until the next business day. This could delay your access to those funds.

The cut-off times can vary based on whether you deposit the check with a branch teller or at an ATM.

Legally, the cut-off deposit time cannot be earlier than 2 p.m. at a branch or noon at an ATM.

For most banks, the cut-off time is around 5 p.m. at a branch location.

For ATMs, it is usually later -- around 8 p.m. or even later.

For mobile check deposits, the cut-off time is similar to that of ATM check deposits.

Note: Even though a bank may be open on a Saturday or Sunday, it may not be considered a "business day." Also, remember that holidays are not business days. If you need a check to clear quickly, it would be best to know your bank's cut-off times.

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Bio photo for Theresa Kim

About the author Theresa KimTheresa is a research analyst at MyBankTracker.com. She is an expert in bank fees and policies, money psychology and consumer spending.https://www.mybanktracker.com

Ask a QuestionFriday, 25 Feb 2022 5:41 PM<p>My husband put a $1,175 ck into Chase about 2 weeks ago for work insurance Covid relief. They placed it on hold for a friggen month!!! Nobody there will answer the phone timely and nobody at the bank its drawn in either will answer the phone timely. My husband doesnt have all day to remain on the phone - what is wrong with these institutions that they dont return or answer phone calls? Absolutely NO CUSTOMER SVC</p>Saturday, 08 May 2021 1:58 AM<p>Hey I have a question for you I have deposited a check for 14,000 on April 27Th and it was put on hold. I received the funds on May 4th and tried to withdraw once I got to my bank they told me the funds was not in my account and on their end it was on hold still but I should the teller that the funds was in my account. They tell me to call or I can go back in a branch in a couple hours after they holds department contact BOA( Bank Of America) the issuer of the check then they would release the funds. Its been 3 days and they have not so called been able to get in contact with anyone from BOA. They also took the funds out my account and put them back on hold I have proof of this. Can anyone help is that legal.</p>

disqus_dYTez0WYcCFriday, 25 Sep 2020 9:02 PM<p>Just remember this number for when banks are not following through with your account.<br>Comptroller of the Currency, Phone (801) 365-0203</p>
disqus_dYTez0WYcCFriday, 25 Sep 2020 8:59 PM<p>These banks now a days are crooks I had chase bank float a large sum and they would not release it . BEWARE</p>
beachinmoneySunday, 20 Oct 2019 3:02 AM<p>Have had two accounts with Chase for 6 years. Never written a bad check and deposit $500-5k from fathers account at least every other month. Depositted 5k written on a person check from my father and his wife account with her as the singer. My father passed unexpectedly two weeks ago. Chase is holding funds for 10 days and has freezer funds available for all my accounts for 10 days even though I called and gave them the name and number of the Manager on the bank the check is written in. Very angry. Can't pay bills or even eat!</p>Friday, 11 May 2018 6:43 PM<p>how long does it take for double endorsed checks to clear?</p>
systemBuilderMonday, 05 Mar 2018 7:33 PM<p>Banks don't pay consumers any interest any more so that the Wall Street Fatcats can get all your money (i.e. it's a US government decision to funnel all the wealth to Wall Street) and therefore, consumers don't have bank deposits any more. So what the bank did was to loan out $120,000 for 8 days (the federal reserve allows banks to loan out $X dollars 12 times) and at 3% annual interest they scammed you for $78.90 and said it was your fault.</p>
systemBuilderMonday, 05 Mar 2018 7:29 PM<p>They were loving the profit they earned on your money for two weeks, hiding it from you! This is how banks scam their customers!</p>
systemBuilderMonday, 05 Mar 2018 7:27 PM<p>Banks make their money by taking in the check payment, earning money market rates for a day or two, then depositing it into you account. Banks would like to KILL all checking accounts, because credit cards are 10x more profitable. So of course they don't want you to know how much money they are skimming from you, then the emperor would wear no clothes!</p>
disqus_eg6PZfPE8BThursday, 15 Feb 2018 4:55 AM<p>Deposited a check for 2 grand and US bank is trying to put a 7 day hold on the check because I don't have enough funds in my checking account to cover the check. My account is 7 months old and I have never bounced a check or overdrawn my account. Sad. I have cashed 7 similar checks by the issuer (all of which were 1 grand and they all cleared in 1 day). Now I have to go into the branch where I opened my account with and speak with the branch manager to expedite my check. I need the money. So sad.</p>
hunterp289Wednesday, 14 Feb 2018 7:38 AM<p>Would opening a new account with funds on a cashier's check from a bank account that was closed incur a one week delay in fund availability? In the future, I'll just take cash from the old bank and drive across the street to the new bank and deposit cash.</p>
jasonasprouseThursday, 11 Jan 2018 2:13 AM<p>I had a similar experience, with a check that I suspected was no good. I walked it into the issuing bank. The manager talked to me, basically said that he could not say if there were funds or not, but that "he would not take that check if he were me". I ended up not depositing it, the amount of the check wasn't enough to risk a bounced check fee.</p>
jasonasprouseThursday, 11 Jan 2018 2:10 AM<p>You are still cashing the check or money order against your account. In years past I was short on money, and wanted to cash a check outright. They would not let me cash the check if I did not have that amount in my account, in case the check came back NSF.</p>
SCOTTLE513Monday, 04 Dec 2017 2:48 PM<p>In future you should be able to call your bank or physically hand the check you receive to a bank teller then they can "verify" the funds to make sure is a good check. They usually contact issuing bank to validate funds are available.</p>
SCOTTLE513Monday, 04 Dec 2017 2:45 PM<p>This is most amazing explanation to consumer acct I've ever seen.</p>
raqemsockemMonday, 13 Nov 2017 3:32 PM<p>These banking practices and many more are addressed under banking regulations - if enforced. As you know, we have an administration that is actively trying to de-regulate the banking system that got re-regulated under the last administration. We need to pay attention to what affects our families and immediate communities and not turn a blind eye to harmful policies just because our favored political party supports them.</p>
eddie_hamiltonFriday, 10 Nov 2017 1:48 AM<p>Is that the only thing you can say? You are beginning to sound like a bot.</p>
eddie_hamiltonFriday, 10 Nov 2017 1:47 AM<p>Right... you will get .001% IF it is an interest bearing checking account. Meanwhile, Wells Fargo make a lot more on that on the spread even at the overnight rates.</p>
vineshkarngutkarSaturday, 30 Sep 2017 9:58 AM<p>Hi, I am about to receive USD 2250 in INR currency here in my Indian bank from RBS bank UK , how much time it will take any idea?</p>Monday, 18 Sep 2017 7:48 PM<p>My client made a deposit to her personal account in India. The Payer was from the United States Government. Her banking institution told her that her funds would not be available for 15 days. I find this hard to believe when deposits are paid within 24 hours electronically in the United States.</p><p>Can this be correct?</p>
denisevirgochildgomezThursday, 07 Sep 2017 6:29 PM<p>Banks in our area pay NO attention to a check's date when processing a deposit. Deposit processing begins immediately.</p>
MyBankTrackerTuesday, 08 Aug 2017 2:48 PM<p>Thanks for your input. The table header has been edited so that it doesn't confuse readers. Solid tip for businesses -- and consumers too.</p>
williamwarfThursday, 27 Jul 2017 3:22 PM<p>The author of this article should has it wrong: just because the funds are available from a check that you deposit does NOT mean the check has cleared. It simply means the bank has made the funds available for you to use. Essentially, this means the bank has advanced you the money and they expect to be paid back by the bank from whom the check is issued. This is one of the many reasons why banks will look at your banking history to determine how long they will hold the funds on the check. It's part of fraud protection. It is possible for a check to bounce months after it has been deposited (though this occurrence is rare). A tip for those complaining about check deposit funds being made available for business purposes, then the check actually bouncing, you could either protect yourself one of two ways: either stop accepting checks OR wait 10-15 business days before sending out the merchandise. On most checks that bounce, you'll know about it within 5 to 10 business days.</p>
loriwojtasThursday, 20 Jul 2017 2:19 PM<p>It takes more than 10 days. They're bunch of crooks!!!</p>
SheWatchesMonday, 19 Jun 2017 11:44 PM<p>It is my experience that if you are counting on money to be there by a certain date and are depositing a check or money order then you better cash it first and then deposit the cash. It's worth paying a tiny service fee to assure your piece of mind.</p>Friday, 09 Jun 2017 7:39 PM<p>I used to be able to call a payer's bank to find out when a check made payable to me was paid, but the banking laws changed after 9/11. Banks will not tell payees anything now. Accepting checks of any kind is risky. Any could be fraudulent, but you might not find out until weeks or months later. Years ago, it took USPS over a year to tell my friend that a postal money order that he deposited was fraudulent! He ended up losing thousands of dollars.</p>
disqus_NSMbNE2jFEFriday, 02 Jun 2017 1:19 AM<p>Business days!</p>
disqus_NSMbNE2jFEFriday, 02 Jun 2017 1:18 AM<p>All they did wa make the funds available to you, subject to clearance. The check did not clear, because there were insufficient funds on the other end. There is nothing you can do, because someone gave you an NSF check, and you are stuck.</p>Wednesday, 24 May 2017 2:23 PM<p>my institution was suppose to send me 50,000, only my school system it shows that the funds was sent to my bank account i check the bank 7 days after and my account was still empy why is so :(</p>
erickarpWednesday, 26 Apr 2017 12:40 PM<p>I transferred money from another large bank to pay for a house closing to a Chase account.. It was three weeks until the closing. The institution that transferred the money showed the money deducted the same day. Two weeks after transferring the money, I tried to wire the money to the closing agent, and Chase refused, saying it hadnt cleared yet.</p>
antonsavonovWednesday, 22 Mar 2017 2:47 AM<p>I hope long enough, for the banks to investigate, that this is not some sort of Tax collection scam. Like people from India do.</p>
shwethavardhulashTuesday, 14 Mar 2017 7:14 AM<p>A customer had paid me by cheque of 3500$, chase cleared it and so I gave my item to him. But after 2 days, chase deducted 3500$ from my account. What can I do now to retrieve back my money. Pl discuss</p>
MyBankTrackerWednesday, 01 Mar 2017 5:01 PM<p>Banks may not necessarily tell you immediately that there is an extended hold on the check deposit. You may even find that the bank will hold it for a little longer for further investigation.</p>
disqus_vDIVJq5yQNTuesday, 28 Feb 2017 2:33 PM<p>enough with the cut &amp; pasted remarks</p>
disqus_vDIVJq5yQNTuesday, 28 Feb 2017 2:29 PM<p>So, Mr. MBA, what's the return on an 8-day investment? We talking about the Mafia? Loan sharks? Who?</p>
disqus_vDIVJq5yQNTuesday, 28 Feb 2017 2:28 PM<p>you know a bank which pays interest?? what---- 0.01%?? Big deal.</p>
disqus_V7DAaoGxvOSaturday, 25 Feb 2017 7:52 PM<p>In the future, date the check for the day they're supposed to cash it. I date my rent checks for the 1st, but usually drop it off the day before. Then they can't try to cash it as soon as I give it to them.</p>
disqus_V7DAaoGxvOSaturday, 25 Feb 2017 7:45 PM<p>I did a large deposit cashier's check at Wells Fargo a few months ago. They said at the very beginning it will take 14 days.</p>
melindamariemokshefskiMonday, 20 Feb 2017 2:48 AM<p>My bank put a seven day hold on a deposited check but didn't say seven business days does that matter</p>
stevepesce879Monday, 13 Feb 2017 8:26 PM<p>Yea,,, Nobody is even mentioning interest lol. When did someone say "they didn't cash my check in time, and they didn't give me interest"? Interest, especially how low it is, is irrelevant.</p>
stevepesce879Monday, 13 Feb 2017 8:20 PM<p>I was always under the impression that there is an agreement that if the bank holds your money, then they are allowed to use your money for their investments, as long as you have it when you need it? Many accounts don't cost anything, so there's only one way for them to make money, I assume, being investing it.</p>
wordwarMonday, 30 Jan 2017 6:14 PM<p>Charlie, many checking accounts do not pay interest.</p><p>You have posted your comment about banks paying interest from the deposit date like four times, and it makes you look and sound like a shill for the banking industry.</p>
wordwarMonday, 30 Jan 2017 6:13 PM<p>You have posted your comment about banks paying interest from the deposit date like four times, and it makes you look and sound like a shill for the banking industry.</p>
wordwarMonday, 30 Jan 2017 6:11 PM<p>Many checking accounts do not pay interest.<br>You have posted your comment about banks paying interest from the deposit date like four times, and it makes you look and sound like a shill for the banking industry.</p>
disqus_9UJumpwZJTWednesday, 18 Jan 2017 2:46 PM<p>Banks using the float is an old story. What I'd like to know is whether or not the check that a contractor sent me is real or rubber? If the check is real, the money's there, I'll release materials to them now. We're talking over $50k so the Banks 7+ day holding period is holding up his progress.</p>
chandramoulialagappanWednesday, 04 Jan 2017 12:49 AM<p>I DEPOSITED A CAHSIERS CHECK ISSUED BY CHASE FOR US$20000/ WITH MY BANK IN INDIA AND THEY HAD SENT IT TO WELLS FARGO FOR COLLECTION AND IT WAS PAID BY CHAE ON 22ND DECEMBER 2016. BUT STILL MY ACCOUNT INDIA IS NOT CREDITED WITH THE PROCEEDS? HOW LONG IT WILL TAKE TO GET THE CREDIT?</p>Sunday, 01 Jan 2017 4:03 PM<p>I made a deposit and it say in 2 days but they'll be closed on that day so will I still get my money</p>Wednesday, 28 Dec 2016 12:49 AM<p>This is irrelevant. The fact that a bank may or may not pay interest from the date of deposit does not preclude them from uses the money elsewhere while it's being held.</p>
GRACEKELLYHASCLASSSaturday, 03 Dec 2016 2:32 AM<p>Don't TRUST these 'BANKS' - they're rubbish. Especially in USA. - you need to set up a system where u can have a cheque cashing agent relationship. Then take the CASH from them - DEPOSIT into bank-transfer to PAYPAL (e.g.) and keep YOUR MONEY in YOUR possession - as much as possible. I also use Morgan Stanley's Active Assets for LARGER deposits. They will do ANYthing for you in terms of immediate CASH, loans etc ...Its ONLY about the CASH kids!</p>Tuesday, 29 Nov 2016 11:48 PM<p>I actually agree with workawokk I'm currently going through this now with Wells Fargo. I started a new job and had to wait 3 weeks to get paid only to deposit it and my bank which currently holding the check until the 6 which is close to my next pay period this is really frustrating especially being a parent and having things to get in order my financial life is at a halt until further notice seriously don't trust the banking system after this </p>
disqus_OBFMyupO0rSaturday, 12 Nov 2016 3:27 AM<p>You are paid interest from date of deposit. Funds availability is fraud protection. Apples and oranges. </p>
disqus_OBFMyupO0rSaturday, 12 Nov 2016 3:26 AM<p>You are paid interest from date of deposit. Hold or not. </p>
disqus_OBFMyupO0rSaturday, 12 Nov 2016 3:25 AM<p>Wrong u are paid interest from the date of deposit, not the funds availability date.</p>
disqus_OBFMyupO0rSaturday, 12 Nov 2016 3:22 AM<p>They may place a hold on your deposit, but if the check is good, the bank pays you interest from the date of deposit not the date the funds are available. Obviously Mr. MBA, you have never seen a bank statement. It lists the posting date only and never the availability. Your premise is invalid. </p>
ShizuppyTuesday, 08 Nov 2016 11:41 PM<p>Depends on the amount of the check. In my state it's a misdemeanor, not a felony.</p>Saturday, 05 Nov 2016 9:30 AM<p>you and "Mr. MBA" are both idiots...nobody asked you to flaunt your credentials</p>Saturday, 05 Nov 2016 9:29 AM<p>Nobody cares about your MBA!</p>
disqus_ZqU2SQdJ9nFriday, 21 Oct 2016 9:18 PM<p>This is silly, Mr. MBA in economics, yields are below 4% for investments that last a year. Yields are pretty near zero right now for investments as short-term as you site. Yes banks do float money, but with the numbers you are throwing out there it seems like you have an agenda. Masters in econometrics here.</p>
timtanThursday, 29 Sep 2016 3:06 AM<p>Depending on what time she deposited the check. If it was well after six pm, then you might be alright. However, the micr strip was picked up on the deposit and transferred to the Fed that evening for verification, etc after passing it to your bank and back. At that point, the check just bounced! Then again....it depends on the bank and how up to date their systems are. Its a gamble! Sometimes it may work, and most times it wont.</p>
Nathan_BrazilWednesday, 21 Sep 2016 3:05 AM<p>While the do this, and they DO make a lot of money, this is how a bank makes more money to lend. To be honest, lending is where a lot of the profit is, but it is also the backbone of the economy in this country. So it is not corruption. It is profit, and it is how banking is supposed to work.</p>
yaroslavzaitsevMonday, 19 Sep 2016 11:48 PM<p>In most states it is a felony to give check to a person without funds to back it up. If check bounces there is going to be very steep fines to pay for both landlord and yourself.</p>
disqus_7xeUfWOkxFSaturday, 10 Sep 2016 5:41 AM<p>Federal law allows banks to only hold checks for up to 12 days max. </p>
disqus_7xeUfWOkxFSaturday, 10 Sep 2016 5:38 AM<p>Your money is being pooled with thousands of other customers thrown into short term investment accounts, trades and other ways banks make money.</p><p>If Wells Fargo puts holds on 5,000 customers at around $7,000 each, that's 35 million bucks Wells Fargo has before releasing to customers. If they got a return of (let's say) 4%..... They just made over 1.4 million on customers money in a very short time. This goes on every single day. It's a corrupt cycle the Feds allow banks to do. </p>
disqus_7xeUfWOkxFSaturday, 10 Sep 2016 5:33 AM<p>Federal law allows bank to legally hold your money for up to 12 days max before releasing funds to you. All banks do this and the Feds let them do this knowing they are cash cows. </p>Saturday, 10 Sep 2016 5:28 AM<p>You are correct about Wells Fargo--they are currently holding a $7,800 Cashier's Check deposit for more than one day and hinting that the full amount still may not be made available, even after they have verified the check! Clearly, this is an example of exactly what you cite. Do we as consumers have no recourse other than to switch to another bank?</p>Friday, 09 Sep 2016 5:24 AM<p>I gave my landlord a check to hold until tomorrow but she already put it in her account tonight. Will i have enough time to go to the bank in the morning to put cash into it for it to clear?</p>
disqus_7xeUfWOkxFFriday, 09 Sep 2016 5:09 AM<p>MBA here in business economics..... Wells Fargo &amp; other Big Banks like to lie and tell you holds are placed "for security reasons" and "federal law requires all banks to have holds" (bullsh--t) The real reason Wells Fargo and others likes to hold people money (aka "deposit holds") is because they float your money. Let's say you deposit $10,000 and Wells Fargo and Co. has the money but still haven't released it to you.....if they do this with thousands and thousands of people, the amount of money Wells Fargo makes using your money investing in short term investments (8-12 days) is staggering. It's all about business and using your money as leverage before giving it to you. Banks make hundreds of millions of dollars doing this... Wells Fargo just happens to be the worst and greediest in the industry. So while you are waiting for your much needed money, Wells Fargo is floating that money with thousands of other customers accumulating interest. It's a corrupt cycle in the banking world that ultimately hurts the end user..... customers.</p>
disqus_ZICOWnre3YThursday, 18 Aug 2016 7:16 PM<p>The bank has several days to "use" my money. It feels like I am being bilked. Where is my money during this period of unavailability?</p>Wednesday, 03 Aug 2016 4:56 AM<p>How long will a cashier check for 3,500 take to clear in a account I opened the same day I deposited at Bank of America? </p>Wednesday, 27 Jul 2016 1:22 PM<p>I made a deposit check deposit for $480 on Saturday. The other party placed a stop payment after the deposit. My bank released the funds. However the party stating their bank frozen her account. I show no return check and its 3 days. What do I do next?</p>
daxx8888Saturday, 09 Jul 2016 9:07 PM<p>Banks typically hold personal checks longer than check from established businesses - this is just normal business caution, in case the check bounces because of insufficient funds. <br>Why didn't you call an account executive at Chase and ask what their policy was, and what they were doing?</p>
daxx8888Saturday, 09 Jul 2016 9:05 PM<p>Close your account and find a better bank.</p>
daxx8888Saturday, 09 Jul 2016 9:01 PM<p>The standard clearance time for large checks is five business days, but that can vary from bank to bank.<br>Suggest you call several local banks and explain the situation, and find out which one will give you the best terms. A check that size should be placed in an interest-bearing account.</p>
daxx8888Saturday, 09 Jul 2016 8:58 PM<p>If at all possible, large deposits should be made in person, and an exact receipt secured, even if the bank has an ATM machine.</p>
daxx8888Saturday, 09 Jul 2016 8:55 PM<p>Depends upon the size of the check and the Chase policy. Most bona-fide tax refunds are available within 3 days. Polite suggestion: Have your refund directly deposited into your checking account (there is a line on the tax form for this) - the refund will be as much as 30 days faster than the standard check refund.</p>
daxx8888Saturday, 09 Jul 2016 8:52 PM<p>This is another example of why you should use Direct Deposit - the money will go directly into your account so you won't have to fool with deposit slips, misplaced items, etc. <br>In general, banks will honor checks with 6 months of the date they were written - but that policy varies from bank to bank.</p>
daxx8888Saturday, 09 Jul 2016 8:50 PM<p>It also depends upon the size of the check, and whether or not the check is from a business or an individual. Personal checks might be held for a longer period of time.</p>
daxx8888Saturday, 09 Jul 2016 8:47 PM<p>The standard clearing time for large checks is five business days. A very large check might take longer.</p>
tristanfahSunday, 19 Jun 2016 1:48 PM<p>I have a check for 650.00 USD i cashed it today when will all the funds be put into my savings so that i may buy something online?</p>
ericgettinpaperstoutamireSaturday, 18 Jun 2016 6:25 AM<p>I cashed a check for 3,750.25 on Wednesday at my Vystar ATM. How long will it take for my check to clear</p>
SimonMBTTuesday, 07 Jun 2016 4:12 PM<p>That is quite a ridiculous hold duration for a check, especially a cashier's check. Have you escalated your case to the bank manager? You can also file a complaint with the Consumer Financial Protection Bureau: <a href="http://disq.us/url?url=http%3A%2F%2Fwww.consumerfinance.gov%2Fcomplaint%2F%3AaQ5iYiJwVoKNx0hBvq7toqu2Bzw&amp;cuid=15643" rel="nofollow noopener" title="http://www.consumerfinance.gov/complaint/">http://www.consumerfinance....</a>.</p>
SimonMBTTuesday, 07 Jun 2016 3:47 PM<p>Unfortunately, these incidents happen quite often. Banks often make the funds available to you even though the check may not have cleared. Depending on the situation and state laws, the bank customer is often responsible for ensure that the check is legitimate before submitting it for deposit.</p><p>You would have to go after the check writer and even request that demand compensation for fees that you may have incurred.</p>Tuesday, 07 Jun 2016 2:33 PM<p>I deposit a check for three thousand and bank held it for two days they relesed on thire day and on fourth day they came to my house and informed me it was fraudulent and charged my account the sum of the check was I wrong thinkin g the bank wouldn't have cash if it hadn't cleared</p>
nikkiblomkerWednesday, 01 Jun 2016 3:10 AM<p>I just deposited a check for 2300 a few days ago into my savings account my bank told me there would be a 10 day hold on it, then this morning told me 20 days and then 2 hrs later told me 60 days, my aunt is the bank manager from which the cashier check came from she called my bank to give them all the information they needed to see if the check would clear, they pretty much told her they couldn't talk to her about it and it needs to be held for 60 days, why is this, under compliance with regulation cc says they can only hold it for a max of 11 days, so why are they saying they won't let me touch it for 60 days</p>
SimonMBTTuesday, 31 May 2016 7:12 PM<p>It will likely take a week to clear. When you actually deposit it, Bank of America will notify you of the approximate date that the all the funds will be available.</p>Tuesday, 31 May 2016 6:51 PM<p>i have a $7,000 check how long will it take to clear in my business account. had the business account for 7 months with bank of america</p>
SimonMBTTuesday, 31 May 2016 3:04 PM<p>With such a large check, you can expect the bank to put a hold for roughly 2 weeks.</p>
SimonMBTTuesday, 31 May 2016 2:38 PM<p>The deposit time can vary greatly from case to case. You should expect it to take about 7 business days for it to clear -- with the possibility that the bank could hold it for longer. Your bank will usually tell you the approximate date that the funds will clear.</p>Sunday, 22 May 2016 10:10 AM<p>I have $120,000 corporate check how long will it take the bank to clear the funds if I open an account with the bank with the check</p>Wednesday, 18 May 2016 7:01 PM<p>If i depoist a 45,000.00 check . how long will it take.. My account is not in the neg. But we dont have money just sitting there too often.. I get this check i need things </p>
SimonMBTMonday, 16 May 2016 4:45 AM<p>Typically, your check will clear by Wednesday morning, but that is not a guarantee.</p>
disqus_hGy7C3SY3ASaturday, 14 May 2016 7:08 PM<p>If someone gives me a check and I deposit it into Chase on a Saturday when will it clear the account it came from Santander</p>
SimonMBTThursday, 12 May 2016 6:10 PM<p>Lindsey, generally, 10 business days is a good amount of time to wait to see if the check bounces. I would suggest waiting even up to 1 month before touching those funds to ensure that the bank doesn't remove those funds for other reasons.</p>Thursday, 05 May 2016 4:23 AM<p>While cleaning out my car I discovered a check still attached my a pay stud. Using my online check capture I deposited it into my bank. Assuming my bank would deny it if it was already put through. To my surprise it was deposited. I left the money in my account just in case it didn't clear. A few days later I contacted my bank to see what was going on. They didn't give me much information. 2 weeks later the money is still in my account. How or when will I know if it's cleared?</p>
tinagleisnerThursday, 28 Apr 2016 8:45 PM<p>Sounds like you should have closed this account right away. I have unsecured LOC baking up my checking account. They have hold on 21K, although it's funny that they show 33K in the account ... and then they took 11K from loan to cover check. I called the credit union &amp; got charge reversed but it is WRONG!!!</p>
tinagleisnerThursday, 28 Apr 2016 8:36 PM<p>We sent deposit in overnight with 3pm delivery guaranteed ... and they didn't deliver until 2nd day so we get our postage (about $21) back</p>
tinagleisnerThursday, 28 Apr 2016 8:35 PM<p>Yes, but I have same problem with my credit union where I've had accounts for 20+ years - 10 day hold on checks when my balance is often quite high ... crazy!</p>Tuesday, 12 Apr 2016 1:23 AM<p>How long does it take for a IRS refund check to clear <br>with Chase if I deposited it TODAY?</p>
AwarenessForexTuesday, 08 Mar 2016 7:15 AM<p>Some banks still charge up to $30 USD for a domestic wire and $60 USD for an int'l wire.</p>Friday, 12 Feb 2016 1:53 AM<p>The samething happen to me. I deposit a check in their teller. On the next day the fund were there. But when i try to take some of it out they put a Hold on my account and i saw that little witch banker do it. I have to wait 2 week and I feel it's disgusting and unacceptable what they did.</p>Thursday, 11 Feb 2016 5:46 PM<p>Credit Unions are the ONLY way to go and these days with Co Oped Credit Unions there is really no reason everyone doesn't move their money. You also need to try and go in when you can so you have that personal relationship. Also if you think you can;t join one...that is a thing of the past. Most all CU now accept anyone as long as you live in the county or belong to some organization or have graduated from some school, etc etc etc etc. I promise there is a CU that applies to everyone these days.</p>
Flunking_RetirementFriday, 11 Dec 2015 3:38 PM<p>Did you mail it? Biggest problem sometimes is the good ol US Postal service. Ive mailed checks across the country and had the funds available im 4 days, other times its taken as much 2 weeks. And look out if a weekend in transit intervenes! that could add another 3 to five days simetimes. Best way is to wire funds.</p>
SimonMBTThursday, 29 Oct 2015 10:58 PM<p>Unless you've had any negative banking history in the past, you should be able to open an account, deposit the check and be able to access all of the funds within two weeks -- but it should be much faster (more like less than a week). The actual clearance time will depend on the bank and your banking history.</p>
disqus_jPqZluESobThursday, 29 Oct 2015 11:09 AM<p>MY mom passed and I am the only heir the house sold I don't have a bank anywhere and I'm receiving around 60,000 for the inheritance how long will it take to clear if I pick a bank (don't know which one to choose ) ?</p>
SimonMBTThursday, 11 Jun 2015 3:39 PM<p>Did Chase give you a reason that your check deposit was put on a 2-week hold? When you say "immediate short term credit," do you mean that you didn't even get the $200 portion of the check immediately?</p><p>Sounds like Chase really made the effort to inconvenience you before your family trip. Seems like a drastic measure for Chase to freeze your account over a stopped check payment.</p>Thursday, 11 Jun 2015 6:32 AM<p>Chase was terrible. I deposited 6k check from a customer of mine for a car and it put 2 week hold on it. Didn't give any immediate short term credit. The customer was upset that I held the car so stopped payment on check and gave me a cashiers check. I took it to his bank and got the cash. Long story short. Chase froze my card and account a day before my family and I left for hawaii. Closed it and I had over 10k already before the deposit. It really hurt our vacation and I lost faith in banks. On the flip side, bank of america did credit a $6500.00 check the next day with no problems when I had my account with them. I now spread my money out with different banks and some cash at hand for emergency. DO NOT TRUST A BANK. I should have listened to my great grandfather when he told me that. He learned the hard way in the great depression. I feel everyone's pain. The only way to make them suffer is to pull all our money out as a united front and bankrupt them. Then again, the gov will help them. </p>
disqus_NUnClXzuKQSunday, 05 Apr 2015 10:16 PM<p>Is it now? Is it really refreshing????</p>
SimonMBTTuesday, 03 Feb 2015 4:06 AM<p>It SHOULD clear within one business day.</p>Tuesday, 03 Feb 2015 2:16 AM<p>Can someone pleas help me out with a question I have a BOA account my dad wrote me a check off his BOA account for me to deposit into mine can someone please tell me about how long i will have to wait I'm about to lose my car if I don't get the funds please someone help me?</p>
disqus_wzRgEvMTsIFriday, 02 Jan 2015 1:22 PM<p>You're actually correct in banks not having much cash. My local BAC didn't even have $11,000. In cash I wanted to withdraw a few years ago (I moved my account shortly thereafter) to buy a used car :(. I was really surprised. The hold time though today at some banks taking up to 2 weeks is ridiculous. I also would not be cashing and spending a $50k check without either knowing the source or verifying funds. The point is though the banks are placing holds on checks for much longer than needed in today's world. </p>Friday, 02 Jan 2015 12:20 PM<p>Most banks do not have $50K in 1's and 5's on hand. And doing this would only inconvenience tellers who have little say in the policy. Its similar to constantly changing your order at McDonald's because youre not happy that the price of the burger went up.</p><p>Not only that but the bank's hold policies are presented to you when you open an account. Every accountholder agrees to this when you sign the papers.</p><p>Now let's take the flip side. Imagine the bank instantly gave you $50000 without verifying the funds. Now let's say the check bounces and youve already spent some or all of the money. You still have to pay it back. Would you be happy suddenly being up to $50k in the red? This is why banks hold checks until the funds can verified.</p>Tuesday, 30 Dec 2014 5:41 AM<p>I am having the same prob with my bank PNC #%@kers I deposited on Saturday I was told when I called today it should be released by midnight it has already came out of my grandmother's pension account I am livid. Spent 4 hrs on the phone with the bank today, to be told it will be completely available after midnight well guess what NOPE!!!</p>Friday, 19 Dec 2014 11:19 AM<p>They make money off interest so holding your money for days is another way to make them rich yet they get the money right away or within a day.</p>Tuesday, 25 Nov 2014 4:21 PM<p>And yes it's Domestic. Thank you for your help!</p>Tuesday, 25 Nov 2014 4:20 PM<p>ok I will check this out. It's Florida Community.</p>
CommonSenseSeniorTuesday, 25 Nov 2014 4:09 PM<p>If the $60K check is a domestic transaction and not a international transaction, yes it should have credited to your account by now and funds available to you. Put on hold? Check with the maker of the check and ask, 1. did the $60k debit from their account. 2. do they have a copy of the cancelled check? If the answer is yes to both, then your bank is up to something. Once an account is debited and a check has cleared it is hard to put a hold or reverse the transaction, unless, something abnormal happened at the origina bank. What is the name of your bank?</p>Tuesday, 25 Nov 2014 2:35 PM<p>A check for 60k was deposited. Here it is 11 business days later. Supposed to be today to clear but I'm doubting it. What can I do to speed along? <br>Do you think they put it on hold?</p>
clayton_boydSunday, 09 Nov 2014 6:38 PM<p>This is NOT true. I deposited a check from a law firm, out of state.... and waited two weeks. I asked the bank if it had cleared and they said the money was available, aka cleared. I withdrew the money for bills. A week later, the bank reversed the deposit and demanded I pay the money back. I asked the manager about when the check clears.....He said that it never 'clears', which confused me as it goes against everything we are told. I asked what I did that was incorrect, and he said I should have waited longer, but he could not give me any timeframe. All he said was that the bank is NEVER responsible for a bounced check, regardless if that bank makes the funds available or however long you wait.</p>Thursday, 07 Aug 2014 2:30 AM<p>okay i have PNC and somebody from TD Bank sent me a check via bill pay and on their end it said that it would be to my account by 8/5 however i don't have any money. can somebody let me know how long the processing would take if PNC got it. and how would i really know if they got the check? </p>
jack_beelerThursday, 10 Jul 2014 7:59 AM<p>Not on any other banks ..I sell cars so all my deposits r large so if I stayed with BOAI I would've gone bankrupt </p>Thursday, 10 Jul 2014 4:29 AM<p>That was a standard Reg CC hold time. It's now changed to $200 same day, but still the remaining $4800 after 2 business days and the rest after 7 business days. Standard practice among every bank that places a large item hold.</p>Thursday, 10 Jul 2014 4:23 AM<p>You're right. In today's day and age if wire transferring money you should have been smart enough to wire the money to your account so that it would be available that same day rather than writing a check and expecting your bank to take a $50,000 risk by giving you immediate access to the funds. That's standard Regulation CC holds that every bank in the country does...</p>Tuesday, 17 Jun 2014 1:51 AM<p>I deposited a check on a Thursday and its almost Tuesday and still haven't been accredited my paycheck<br></p>
disqus_vI1hAQwG8OThursday, 12 Jun 2014 6:51 AM<p>This is very refreshing !!!</p>
jackbeelerFriday, 06 Jun 2014 5:51 PM<p>Not sure exactly but wasn't new ,maybe 2 yrs</p>Friday, 06 Jun 2014 5:46 PM<p>How old was your account?</p>
geraldmoralesWednesday, 21 May 2014 2:41 PM<p>Keep in mind the research conducted for this article is about 6 months old, policies change.<br>As far as the actual time it takes for checks to clear as of today, I will look into it. When I did create this table I literally called banks and spoke with representatives via chat to ensure all of the clear times were correct. <br>Sorry if any have changed, but I will look into the matter and make corrections.</p>
jackbeelerTuesday, 20 May 2014 12:30 AM<p>The best thing I have ever encountered when I banked with BOA I deposited a check for $8800 they gave a $100 same day ,$4900 in two business days and the rest in 7 business days go figure like the check would come back in three pieces if it wasn't honored at the other bank </p>Wednesday, 23 Apr 2014 8:24 PM<p>sup man</p>Friday, 14 Mar 2014 5:27 PM<p>Per Reg CC, banks have the right to hold large deposits (anything over $5k) for up to 7 business days following the deposit. So with that information in hand, the bank actually gave you pretty good treatment by making the funds available on the 6th business day (2/11) following your deposit (2/3). I know you said you deposited it on a Sunday night (assuming via mobile), but it really doesn't matter if you did it Sunday night (2/2) or Monday (2/3) during the day before the cut off time because it's really isn't processed until Monday night.</p>
SeriouslySpainFriday, 14 Mar 2014 9:38 AM<p>I found Bank of America to be the absolute worst when it came to clearing checks. Four to five days sometimes, even though they always told me it was supposed to be 'same day' or 24 hours at the most.</p><p>What with this, plus ridiculous scam fees, I finally closed my Bank of America account a couple of years ago and went with a credit union instead. Haven't had a problem since :)</p>
disqus_XXN0qDBsMiThursday, 13 Feb 2014 8:54 PM<p>Ally isn't on this list... for good reason. So, FYI... Ally can hold a check deposit for up to SIX business days. Gawd forbid you should have a small NSF lasting for one day.... they are very unforgiving and have poor customer appreciation.</p>Thursday, 06 Feb 2014 3:49 AM<p>Been banking at Suntrust for 25 years deposited 2 checks $16,500.00 &amp;10,300.00 Sunday night call the teller Monday she informed me she took care of it for me received a call today that the money would not be available till 2/11/14 she said they could not cofirm that money was available from the 2 banks the different bank Chase and Bank of America Called the person that gave me the check for 16,500.00 the check cleared their bank on Monday 2/3/14 thiis would mean the bank is holding my money for 8 days ????</p>Thursday, 06 Feb 2014 1:59 AM<p>Yes, &amp; Suntrust is still "2 business days" for my business account. Which translates to two business days starting the day after you deposit the check. Which is actually about 5 days total if you deposit on a Wednesday afternoon. Funds will be available the following Tuesday. Guess what? I will no longer be banking with Suntrust</p>
disqus_8wKl4lE8fJTuesday, 31 Dec 2013 7:32 PM<p>A check drawn on my BOA account and deposited into my Regions account before 4pm will clear my BOA account the same day. But the reverse (Regions deposited into BOA) takes an additional day to clear. Go figure.</p>

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