Answers about Funds Availability
Select from the following questions about when funds are available after deposits and deposits placed on hold.
- A friend wrote me a check to repay a small debt. The bank that the check is drawn on has released the funds, but my bank is still holding the funds. Can it do this?
- How long can the bank place a hold on government checks (e.g., social security and treasury checks)?
- Can the bank place a hold on a payroll check?
- Can the bank place a hold on deposits made in cash?
- The bank placed a hold on a cashier's check that later turned out to be fraudulent. Aren't cashier's checks supposed to be honored immediately?
- I opened a new checking account, but the bank will not let me withdraw my funds immediately.
- A friend says that her bank never places a hold on her deposited checks. My bank always puts a hold on my checks. Aren't all banks supposed to use the same availability schedule?
- Are there exceptions to the funds availability (hold) schedule?
- I re-deposited a check. Now the bank says that it has placed an exception hold on my funds. What does that mean?
- I deposited $10,000 to my account. When will the funds be available for withdrawal?
- What is the cut-off time for deposits?
- I deposited a local check. When will my funds be available/released from the hold?
- My employer pays me via direct deposit. When are those funds required to be available?