I recently deposited a check from a life insurance company that was made out to me. The bank said that they were able to verify the funds, but still placed a 17-day hold on it. Is this standard?
If the check was deposited to a savings account, there is no standard on when funds have to be made available (in most states). If you deposited it to a checking account, the bank may have placed a hold of up to eleven business days, which could stretch out to 15 or 16 calendar days, if there was a holiday included. If the deposit was to a checking account, you should have received a hold notice indicating why the bank held up your use of the funds.
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If the check was deposited to a savings 