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Is a Fourteen Day Hold on Check Legal?
My bank put a fourteen day hold on a check that I deposited from another local bank. Is this allowed?
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 In the most general of terms, if you deposited the check into a checking account, the answer is, "No." Normally, such a check should be made available for your use within two business days.
If the bank placed a longer hold, it is supposed to provide you with a written notice of the reason for the hold. Such a hold could be for as long as seven business days. If the check were actually deposited on a Friday after the bank's cutoff hour, it would be considered recieved on Monday, and seven business days would take you to Wednesday of the week following (my count is now at twelve calendar days).
If this "local" check were in reality not drawn on a local bank, the bank could theoretically place a hold for as long as eleven business days, which would be about fifteen calendar days. Finally, if you deposited the check to your savings account, there is no federal rule on how long the bank can restrict your access to the deposited funds. Ask the bank manager about the reason for the hold and how they arrived at that duration. After all, you might want to avoid such a hold in the future.
Published on BankingQuestions.com 8/30/07
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