2006-09-24 05:31:09 · 7 answers · asked by Loren1 1 in Business & Finance ➔ Personal Finance
at the bank i work at, we put holds on only certain checks. it's usually a case by case scenario. For example, if you wanted to deposit a $5,000 check and you had $10,000 in your account, we would not put a hold on this check because if the check were to bounce, you would have funds available to cover the check. If you did not, however, have more than $5,000 in your account and you were constantly overdrawn on your account, we would definately put a hold on the check, for at least 3 to 5 days.
2006-09-24 08:06:11 · answer #1 · answered by cindos_69 5 · 0⤊ 0⤋
That would depend on the time frame that you have had your account at your bank, and also how good of condition is your account in. Meaning that if you have had a negative balance several times, they will hold all checks, but if your account is a long term account and it is in outstanding condition, then they will not put a hold on it. My account has been opened since 1972, (because of my late husband had opened it who was 20 years older than I.) and this account has never had any over draft charges or bad checks run through it. My bank lets me cash all checks and they never put a hold on any thing.
2006-09-24 05:38:42 · answer #2 · answered by cinson1999 4 · 0⤊ 0⤋
'this is becoming more and more common. Too many people trying to kite checks.
So here is the deal. You make a deposit, and the bank will not credit your account till the check clears. If its a very large check they get nervouse.
2006-09-24 09:23:22 · answer #3 · answered by john d 3 · 0⤊ 0⤋
with chase (personal account), any check over $7500 gets an additional 5 business day hold and i got a 10 day hold put on a $80,000 check even though i deposit those check frequently
2006-09-24 08:45:42 · answer #4 · answered by ken 3 · 0⤊ 0⤋
Banks are all different about these things. It should depend on where the check is drawn - as in, is the bank close by so the check will clear quickly - more than the amount. My bank also told me that it would depend on how long I'd had the account and whether I'd kept it in good standing. However, you should ask your bank about their policies.
2006-09-24 05:34:40 · answer #5 · answered by pag2809 5 · 1⤊ 0⤋
Depend on your bank and your account. After many years with the same bank, I had no resrictions on holding money.
2006-09-24 05:33:10 · answer #6 · answered by Fleur de Lis 7 · 0⤊ 0⤋
it depends on your history with the bank, your balance, usually three days for a hold.
2006-09-24 06:12:02 · answer #7 · answered by churchonthewayseniors 6 · 0⤊ 0⤋