My bank put a seven day hold on a local check. They have spoken with the other bank and verified that it has cleared and been paid. Do they have the right to continue the hold?
In most cases, that set of facts would lead the depositary bank (your bank) to release the hold and give you access to the deposited funds, assuming the depositor asked for the early release. If you haven't asked about a release, you should do so.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
In most cases, that set of facts would lead the depositary bank (your bank) to release the hold and give you access to the 