When a payroll check is deposited on a Thursday evening prior to a 3-day holiday weekend, is it true that a bank does not have to make those funds available until the following Tuesday? What about other bank transactions? If I deposit a payroll check on a Saturday the funds are usually available
on Monday.
If a check is deposited on Thursday evening, the deposit is probably posted to the customer's account as a Friday transaction. The earliest that funds from a deposited check must be made available for withdrawal is the first business day following the date of deposit. In this case, the date of deposit is Friday, and the next business day is Tuesday. The fact that the bank may be open for business on Saturday, Sunday or the Monday holiday would not make those days business days for the purposes of deposit availability. If a bank allows funds deposited in check form on Saturday, that would be Monday business, to be withdrawn on Monday, same business day as the deposit, it is providing better access than the law requires.
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If a check is deposited on Thursday evening, the deposit is probably posted to the customer's 