Is there any other reason besides having a check to clear to hold the check for five days?
Allowing time for a check to clear and to learn if it did not clear is the justification for placing holds on deposited checks. Because banks don't normally learn that a check has cleared; they use exception reporting that tells them when a check has been returned, it often takes at least five days to learn of a check's fate, particularly if the check is drawn on a bank at some distance. Routine holds on such checks cannot exceed five business days. Checks deposited on Monday would be available the following Monday morning.
For checks drawn on banks that are closer, within the same check processing region, the normal limit on holds is two business days. Checks deposited on Monday should be available on Wednesday morning for withdrawal.
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Allowing time for a check to clear and to learn if it did not clear is the justification for placing holds on 