Rates Current as of Friday February 10, 2012

« A friend wrote me a check to repay a small debt. The bank that the check is drawn on has released the funds, but my bank is still holding the funds. Can it do this?

What is the cut-off time for deposits? »

I deposited a local check. When will my funds be available from the hold?

When funds become available for withdrawal depends primarily on the type of deposit. A local check (drawn on banks located in the same check-processing region as the bank in which you made the deposit) has second business day availability. Generally, a national bank must make the first $100 from the deposit available, for either cash withdrawal or check-writing purposes, at the start of the next business day.

This entry was posted on Saturday, October 11th, 2008 at 8:51 pm and is filed under FAQs. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

No user commented in " I deposited a local check. When will my funds be available from the hold? "

Follow-up comment rss or Leave a Trackback

Similiar Content You Might Enjoy

What are the factors I should consider in deciding on which internet bank account to use?

The easiest answer is open an account that best suits your needs with lowest costs and highest rate of return. To be a little less vague, the following features are some of the most commonly sought after by internet bank shoppers, The APY paid on the account, the fees for ATM use and the

What is a basis point (BPS)?

A basis point is a unit of measure in finance to describe the small percentage change in the interest rates of financial securities. One basis point is equivalent to 0.01% or 1/100th of a percent. If your local bank raises the interest rate on its one year CD by 25 basis points it

Inauguration CD Rates

We are looking at banks in Washington D.C. that offer the highest CD rates while the new president is worn in. Independence Federal Savings Bank is one such bank that is headquartered in D.C. Independence Federal Savings Bank’s main office is located in Washington, D.C. with two branch offices in Northwest Washington, one in Chevy Chase,

Bank Funds Availability and Check Clearing Times

Opening a bank account and making deposits doesn’t necessarily mean those funds are immediately available for use. When you deposit a check into a bank a holding period is usually placed on the funds. This waiting period is the length of time the bank will hold the check or checks in order to

Hedge Fund

A private investment pool for wealthy investors that, unlike a mutual fund, is exempt from SEC regulation.

Securities and Exchange Commission – SEC

The primary U.S. government agency responsible for the regulation of the day-to-day operations and disclosure obligations of securities trading. The SEC is an independent, non-partisan, quasi-judicial regulatory agency with responsibility for administering the federal securities laws. The purpose of these laws is to protect investors and to ensure that investors have access to

Bankwire

An electronic communications network owned by an association of banks and used to transfer messages between subscribing banks. Bankwire also offers a clearing service called Cashwire that includes a settlement facility.

Money Market Funds – Mutual Funds Distribution and Service (12b-1) Fees

Another fee charged by many money market funds advisors is the so-called 12b-1 fee named after an SEC rule that reimburses the fund’s sponsor for the advertising and marketing costs associated with distributing shares. Other money market funds operating expenses cover the custody of securities and transactions and communications with shareholders. In addition to operating

Stop Payment

An order not to pay a check that has been issued but not yet cashed. If requested soon enough, the check will not be debited from the payer’s account. Most banks charge a fee for this service.

Comparing Annual Percentage Yield on Bank CDs

Annual percentage yield is a great tool for comparing bank savings products and evaluating how much your deposit earns. APY measures the rate of return annually and takes compounding into account. For bank products like high yielding CDs, the APY measures the interest rate and how quickly that interest is paid. Shorter compounding periods leads

Best One Year CD Rate in South Carolina

The 15 month special CD offered by Enterprise Bank of South Carolina is the highest CD rate in the one year term grouping for all of South Carolina. The CD rate on the 15 month term is 4.25% APY. Enterprise Bank of South Carolina also has a special 27 month CD which is the highest

Centric Bank in Central Pennsylvania

Centric Bank is headquartered in south central Pennsylvania, offers business and personal banking services supported by high-touch expertise, mobile banking and high-tech Internet banking features. There is a wonderful quote by the president of the bank posted on their web site that states, “A community bank’s foundation is built around people, not protocol. We are

The Best CD Rates in the California Desert

The Mojave Desert is approximately 20,000 square miles of arid land in Southern California. It is surrounded by mountain ranges to the north and west and the Sonoran Desert near the southeast. The desert was formed by volcanic eruptions and deposits from the Colorado River. When searching for the beauty of the Mojave Desert, two

Arvest Bank CD Offer Arkansas Democrat-Gazette November 25, 2008

Arvest Bank in Arkansas is promoting its short term CD as super. It is the super seven month CD special. Catchy advertising text found in the Arkansas Democrat-Gazette promotes the 7-month special with 3.41% APY. This 7 month CD has no penalty for early withdrawal as long as the CD is held for 7 days

Nonpersonal Time Deposits

Time deposits and money market accounts that are not held by depositor other than individual(s). These can include deposits held by corporations, deposits owned by foreign banks and certain proceeds from banker’s acceptances.

Transfer Agent

The organization employed by a mutual fund to prepare and maintain records relating to shareholder accounts.

CD Rates at Central Progressive Bank

Lacombe is located in St. Tammany Parish, Louisiana, United States. It is part of the New Orleans–Metairie–Kenner Metropolitan Statistical Area. It is also the location for the main office of Central Progressive Bank. Central Progressive Bank was established in 1967 in Amite, LA. Central Progressive Bank has 16 bank branches in Southeastern Louisiana. The bank

Today’s Bank Rates October 4th, 2010

Bank savings rates and lending rates moved in opposite directions over the past week. Short term bank savings rates were mostly held in check while longer term bank savings rates tumbled. Bank lending rates were higher on average while U.S. Treasury rates followed the bank savings rates, holding steady on the short end

CD Interest Rates and Mortgage Rates Fall Again August 15th, 2011

Even as the stock market began to regain its footing, bank rates led by mortgage rates and CD interest rates continued to move lower. After falling measurably for the week ending August 8th, another week of stock market and credit market mayhem led to another significant decrease in mortgage rates, CD interest rates and savings

Can a bank refuse to let me open a checking account?

Yes. National banks are private businesses. No Federal banking law or regulation requires a national bank to open an account.

CD Rate Updates

CD Interest Rates Mildly Lower January 30, 2012

In the most recent survey of bank CD rates conducted by Selectcdrates.com, CD rates slumped slightly compounding last week’s similar dip. The average yield on the Selectcdrates.com CD rate index moved down to 1.081 percent from an average rate of 1.087 percent found in the previous rate survey. The Selectcdrates.com index covers the top ten [...]

CD Interest Rates Hold Steady January 23, 2012

CD rates remained relatively stable in the most recent survey of the top national CD rates. The average CD rate, as measured by the rates on the best three month, six month, one year, two year and five year CD rates, was unchanged from the previous week. The Selectcdrates.com weekly CD rate survey showed the [...]

CD Interest Rates Display Little Change January 16, 2012

The best CD interest rates available were little changed over the past week. Based on the most recent survey of bank CD rates performed by Selectcdrates.com, the average CD rate gave up less than one basis point or 1/100th of a percent week over week. The average CD rate on the highest three month CDs, [...]

Banking & CD FAQs

What is overdraft protection?

Overdraft protection is an agreement with the bank or financial institution to cover overdrafts on a checking account. This service will typically involve a fee and be limited to a preset maximum amount.

What are the penalties for withdrawing money early from a Time Certificate of Deposit (CD)?

Federal law stipulates that all time certificates of deposit (CD) that are cashed out early are subject to a minimum penalty. If you withdraw an amount within the first six days after deposit, the penalty consists of at least seven days’ simple interest. Other than that, national banks can set their own penalties;

What is identity fraud?

Identity fraud includes all types of crime in which someone wrongfully obtains and uses another person’s personal data in some way that involves fraud or deception, typically for economic gain. Identity theft is one type of identity fraud and is probably the most recognized form. Although identity theft is defined in many different

What is the FDIC and what does it mean for me?

The FDIC is the Federal Deposit Insurance Corporation. It is the primary regulating body of state chartered banks that are not members of the Federal Reserve System. It insures the deposits of individual accounts up to $100,000.00 per account.

Best Rates on CDs
Best Interest Checking Account Rates

Discover Bank IRA CD Rates

Emigrant Direct
Sallie Mae Savings

Bank Deals
Checking Account Promotions
Chase Bank Promotions Bank of America Promotions
Capital One Promotions
Citibank Promotion

Second Chance Bank Account
Online Checking Accounts Roth IRA Accounts

Best Credit Card Rates Low Interest Credit Cards Business Credit Cards Credit Cards with Cash Back Credit Card Applications
Best Credit Card Offers
Low Interest Rate Credit Cards
Credit Cards for Bad Credit

Best Prepaid Cards
Chase Bank Credit Cards
Chase Credit Card Offer Chase Freedom Card
Chase Credit Card Interest Rates
Wells Credit Cards
Apply for Citibank Credit Card
Citicreditcard
Student Citi Card
Citibank Dividend Card Balance Transfer Credit Card HSBC Bank Household Bank Credit Card

Personal Checking Account
Bank Certificates of Deposit
Compare Savings Accounts
Setting Up a Bank Account Online Bank Services
Bank Information
Open a Bank Account
Bank Money Markets
Bank IRA Accounts

Mobile Banking Online Banking

CD Ladder
CD Loan

Best Checking Accounts

Senior Checking Account

Car Loan Rate

Business Checking

Online Brokers

----------Calculators ---------

Savings Account Calculator
Compound Interest Calculator
Mortgage Payment Calculator

About Us | Contact Us | Privacy Policy

I deposited a local check. When will my funds be available from the hold?

No user commented in " I deposited a local check. When will my funds be available from the hold? "

Leave A Reply

CD Rate Updates

Banking & CD FAQs

Bank & CD Tips