Chase check on hold, what's going on!

[Kforce]

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@Gmood1 wrote:

All banks aren't created equal when it comes to stuff like this.

Some banks take several days to clear.

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+100

This is true, many have found a CU that works better for daily checking, bill-payment, and ACH transfers.

Most are faster and better than the larger "Banks".  Don't know why, I guess CU's competing for business makes them try a little harder.

Some institutions also look at your history and account balances.

Person "A "  ( < 1 year with a balance of $200 in checking) or Person "B" with ($10,000 in checking and 15 years history).  A gets a 5 day hold and B get access to the money.

Sometimes there are also limits like they might release checks less than $1,000 but put hold for anything larger.  The larger the check the more likely a hold.

[RadioRob]

I had a large 50K check from the sale of some stock that I had to deposit. I asked about hold times since I knew they would not release such a large amount immediately. The personal banker said since it was a printed check from Fidelity, it would release within 24-48 hours. He said if it did not, to call him and he would get it released.

Also the type of checking account you have matters too from what I'm told. Sapphire checking accounts have deposits reviewed on a priority basis versus standard free accounts.