Do all deposited checks need to be held for a certain amount of time before clearing? What about a check from a mutual fund?
Federal (and in some cases, state) regulations limit the length of holds placed on checks deposited to checking accounts. However, no bank is obliged to place a hold when it accepts a check for deposit. In fact, each bank has its own policy and procedures, within the regulatory limits, for holding deposited amounts.
A bank may (but need not) place a hold on a deposited mutual fund check. Ordinarily, such a hold would be for up to two or five days (depending on where the check is drawn and the bank branch is located). However, your bank might not have a blanket policy to hold such checks, particularly if you have a well-established positive relationship with your bank. You may easily be able to deposit such a check without a hold being placed.
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Federal (and in some cases, state) regulations limit the length of holds placed on checks deposited to 