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Someone told me that their bank never places a hold on her deposited checks. My bank always places holds on my checks. Aren’t banks supposed to use the same schedule for making funds available?

Unfortunately, no. While all banks are subject to the same maximum hold periods established by law and the rules issued by the Fed, each bank may make deposits available sooner. Each bank determines what its policy will be. It can make all of the funds available immediately or delay availability up to the maximums permitted by law. There is no requirement that banks uniformly provide the same availability schedule.

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Someone told me that their bank never places a hold on her deposited checks. My bank always places holds on my checks. Aren’t banks supposed to use the same schedule for making funds available?

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