I deposited a large check,from a savings at 1 bank to checking at another.How long can new bank hold funds?

Question

Both accounts open 5+ years

Answer 1

depends on the amount of the check. generally anything over 10K, they will clear about 1K and the rest takes about 10 days to clear.

Answer 2

It depends upon whether both institutions are in the same state or not, and how the check was drawn. Normally a withdrawal from savings is done by cashiers check. Most banks will deposit those funds and allow them to be withdrawn within 3 business days, if inside the same state.
In the future, pay the extra small fee for a certified check, and the funds will be available within 24 hours.

Answer 3

Needless to say, you should have gotten the money out of bank one and walked it over to the other bank, if this is causing you trouble ! I did it one time when the 2 banks were so close they could see in each other's windows.

It seems impossible this day and time, but if they can come up with enough bullshit, they can hold you up about 10 days max.
Meanwhile, they are making interest on your money in a process called "overnights" in the lending / banking industry, very short term loans.

Answer 4

Personal checks: Until they clear.

If you'd have used a cashier's check, it'd be available in 5 working days, no questions asked.

Doesn't matter what state you're in, FYI. These are federal rules, they go throughout the country.

Answer 5

It should say in their info pages (on their website). Normally it's five working days and/or until the check clears.

Answer 6

They can hold it until the check clears.

Answer 7

By Tuesday it should clear stating that you deposited today (Friday)