Re: Check holds

Posted by Linda on October 19, 2001 at 13:58:03:

In Reply to: Check holds posted by Sue on October 19, 2001 at 13:15:53:

Do you mean can they hold his payroll check, or hold an incoming check until payroll check clears?

Different banks have different policies about these things, and it often depends on the customer's track record. I know my bank does not hold my payroll check, or any local checks - the money is available the next day. They will hold out-of state checks. My bank will also hold up on a check coming in for payment, if I have funds pending that have not yet cleared - I have banked with them a long time. However, it has to be a check that comes through the local operations center; if it is an ACH transaction, they will usually pay it, but charge me for an overdraft. Those go through a different, centralized operations center. That only had to happen once!!! wayyyyy too expensive.

Honestly, a bank can hold anything if they have a reason. Best not to give them a reason ;)

Linda

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