In Florida, how long can a bank retain funds on a checkdeposited into a new corporate account. The check deposited was written from a corporation in Florida.
We aren't aware of any state-specific rule in Florida, the following is information on the federal rules. For the first 30 days after an account is opened, a check such as the one you describe could be held for any period of time that the depositary bank appropriately discloses at the time the account is opened. Once the account has been opened for at least 30 days, funds from such a check would ordinarily be expected to be available by the second business day after the day of deposit, but that could be extended to the seventh business day under exceptional conditions.
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We aren't aware of any state-specific rule in Florida, the following is information on the federal rules. For the first 30 days after an account is opened, a check such as the one you describe could be held for any period of time that the depositary bank appropriately discloses at the time the account is opened. Once the account has been opened for at least 30 days, funds from such a check would ordinarily be expected to be available by the second business day after the day of deposit, but that could be extended to the seventh business day under exceptional conditions.
