|
 |
Home >> Accounts >> Checking Accounts
A $99,000 Hold on Your Account Isn't Funny
Someone put a $99,000 check in my bank account. The check is not good the bank put a hold on my funds. How can I get this hold released? I was told they couldn't put a hold on my own funds please help me.
|
|
 You need to contact your bank and ask them about the source of the $99,000 deposit. Work with them and ask why this would have been made, and how someone obtained your account number in order to deposit this. That is confidential information, but is also something you give out every time you write a check.
As you work with the bank, advise them that you did not make the deposit and want to help them identify any potential fraud. If they didn't give you credit for the $99,000, they don't need to put a hold on any funds. Be clear with them that you are not attempting to collect any of this money, but that a hold on your account may cause checks you did write to be returned. They should work with you and refund fees they charged you. They should also be able to provide you with a written explanation of any error that should help you get refunds from anyone else charging you a returned check fee.
In the normal course of business banks do have the ability to put holds on items deposited into accounts. They will have provided their customers with a copy of this. Look for something similar to an "Expedited Funds Availability Policy" disclosure, or just ask for a new one. Banks have a lot of latitude when it comes to holds and will be happy to describe their policy to you.
Published on BankingQuestions.com 10/04/06
|
| |
|
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
