days a deposit held before payment
2007-02-12 15:18:36 · 4 answers · asked by paul D 1 in Business & Finance ➔ Personal Finance
This is strictly a matter of individual bank policy. Your customer manual should spell out the policy.
2007-02-12 16:47:17 · answer #1 · answered by Rob D 5 · 0⤊ 1⤋
It depends on the check that was deposited and your account relationship with your bank. If you have a new account or a small account then the bank may hold the funds for 10 days (usually). If it is a federal check like Social Security or a Bank's Cashier's Check then the funds generally need to be available to you the day after the deposit. The bank should explain all this to you when you make the deposit and it's in your disclosure information booklet that should have been provided to you when you opened the account. Don't be intimidated by the banker - ask them to fully explain the rules to you. They work for you. You can choose to bank there or not.
If you are suffering a financial hardship because of the hold, go to the bank and ask an officer to check with the bank that the check was drawn on to find out if the check has been paid. If it has then they should be able to release your hold.
Good luck.
2007-02-12 15:33:48 · answer #2 · answered by Santal 3 · 1⤊ 0⤋
Took a bit of liberty here and reinterpreted your question…how many days before your deposits are cleared.
Depends on the payment method. If funds paid by TT or via “Real time Gross Settlement”, funds are available immediately. Some wage/ salary credits are also available same day (depends on your bank). Cheque deposits normally clear in 3 days.
2007-02-12 15:27:56 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Add to your question, it makes no sense at all as-is.
2007-02-12 15:21:57 · answer #4 · answered by kb 2 · 0⤊ 0⤋