We have same day ACH now, so BoA could easily verify the funds within a reasonable period of time.Įarlier this year I deposited a 27.5K Wells Fargo cashiers check into my BoA checking account. My real issue is that it shouldn’t take more than one business day to verify funds availability in the year 2017. Plus they could have been burned by fraud on that account before - something like people drafting fraudulent checks on the account because they know a lot of money is kept in it. Not all government entities are as solvent as we might believe. I don’t blame BoA for needing to verify the funds if they’ve had issues with that account before. Week-long holds on any mobile check deposit, from $5 to $5,000. This is why I went away from Capital One 360 for secondary banking. I took it to a local branch of the issueing bank and got cash.įrom what I understand if the bank susupects fraud not only can they place a 7-10 day hold on the check but they can place additional holds after that expires until they have proof the check you deposited has been been paid by the issuing wrote: They said they get a lot of counterfiet lottery checks. I once had my bank tell me they would place a 7 day hold on a $1000 check from the IL lottery. They can hold funds, but what I was told the time of deposit was the legal route.
#BOA CHECK BOOK FULL#
I just find this hillirous Bank of America thinks a check issued from a local goverment is going to bounce, not to mention its illegel to hold a goverment issued check in full for that long. Information indicates item may be returned. The reason they gave me in a letter:Ī hold was placed on your check(s) because check specific I find out yesterday, they are holding the entire check for 8 business days. $200 available the next day, and gave me notice $4800 would be available in 2 days, and the remainder $15000 in 5 business days. I went to the bank, gave the deposit to the teller and the teller did everything right. So I got a loan/mortgage through my city for home repairs, received my check (Lets call is $20,000 for the value).
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