2007-07-24 01:36:39 · 3 answers · asked by CHANCE B 1 in Business & Finance ➔ Investing
It depends on the kind of account you have...
My husband and I have a "free" account at Wells Fargo and Bank of America... and if we deposit a check they put a hold on it for a few days (meaning we can't use the money) If we cash the check them deposit it we have funds available right away.
If you deposit the money into an ATM machine it usually takes 24 hours to post to your account... so it is always better to go inside and see a teller if you need the money asap.
2007-07-24 01:47:48 · answer #1 · answered by Mom 4 · 0⤊ 0⤋
Meaning, if you deposit a check for several thousand dollars from someone else, is the bank required to make it immediately available to you?
No. Not unless you have the available funds in your account to hold against the check in case it bounces.
2007-07-24 01:40:26 · answer #2 · answered by zippythejessi 7 · 0⤊ 0⤋
Normally there is a hold on a check until the funds become available.
2007-07-24 01:39:55 · answer #3 · answered by Patty G 5 · 0⤊ 0⤋