Quote:
Originally posted by KRL
I've only been with one bank that credited any size check right away, which was an LA bank specializing in the entertainment industry so they got lots of large checks. We usually kept about $250,000 to $500,000 in that checking account. Most banks though do have a policy of 5 to 7 day hold on large checks unless its certified or a cashiers check.
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I've noticed my bank holds funds whenever I have a substantial increase in business.
If I deposit roughly the same amount of money every week, regardless of how much it is, they credit it right away.
If I have a really good week, or don't make a deposit one week and deposit double the amount the next week, there's a hold on a portion of the funds.
I think it has something to do with the amount of the deposit VS your average daily balance.