What Is a Check Hold?

A check hold is the period of time that your bank or credit union hangs on to your check before the funds are released and available in your account. Check holds allow both the sending and receiving financial institutions time to validate a check.

How Does a Check Hold Work?

When your bank receives a check — be it through the mobile deposit feature on its app or at the physical bank branch — it doesn’t necessarily receive the full credit for the dollar amount on the check. Instead, many checks must first go through the Federal Reserve’s central clearinghouse. This can contribute to a situation in which a check is on hold.

What is the maximum hold period for a check?

In compliance with federal regulations, holding a check usually cannot last longer than six business days. However, if the bank has reason to suspect fraud or your checking account is brand new, longer check hold times may be deemed 'reasonable.'

Can a bank hold a check indefinitely?

No. Banks are subject to federal regulations that limit most check holds to two business days, though in some cases the hold period may extend to six business days. While longer holds are possible under certain circumstances (such as a new account or suspected fraud), the bank still must clear your funds once verification is complete.

How can I avoid check holds?

Directly deposited funds generally clear on the next business day, so signing up for direct deposit with your employer is a good way to avoid check holds on your regular paycheck. For other checks, if the amount is larger, you might ask for a certified or cashier’s check, each of which tends to clear more quickly.

Tv Frame Ideas

Terms and conditions apply. SOFI RESERVES THE RIGHT TO MODIFY OR DISCONTINUE PRODUCTS AND BENEFITS AT ANY TIME WITHOUT NOTICE. To qualify, a borrower must be a U.S. citizen or other eligible status, be residing in the U.S., and meet SoFi's underwriting requirements. Not all borrowers receive the lowest rate. Lowest rates reserved for the most creditworthy borrowers. If approved, your actual rate will be within the range of rates at the time of application and will depend on a variety of factors, including term of loan, evaluation of your creditworthiness, income, and other factors. If SoFi is unable to offer you a loan but matches you for a loan with a participating bank, then your rate may be outside the range of rates listed above. Rates and Terms are subject to change at any time without notice. SoFi Personal Loans can be used for any lawful personal, family, or household purposes and may not be used for post-secondary education expenses. Minimum loan amount is $5,000. The average of SoFi Personal Loans funded in 2023 was around $33K. Information current as of 2/26/24. SoFi Personal Loans originated by SoFi Bank, N.A. Member FDIC. NMLS #696891 (www.nmlsconsumeraccess.org). See SoFi.com/legal for state-specific license details. See SoFi.com/eligibility for details and state restrictions.

✝ To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.

TLS 1.2 Encrypted

Equal Housing Lender

“Tv Frame Ideas”

What Is a Check Hold?

Why Did My Credit Score Drop 30 Points for No Reason?

How Many Personal Loans Can You Have at Once?

How to Pay Off Debt in 9 Steps

How Long Does a Debit Card Refund Take?

“Tv Frame Ideas”

What Is a Check Hold?

Why Did My Credit Score Drop 30 Points for No Reason?

How Many Personal Loans Can You Have at Once?

How to Pay Off Debt in 9 Steps

How Long Does a Debit Card Refund Take?

Student Loan Refinancing

Personal Loans

Online Investments

Other

Student Loan
Refinancing

Personal
Loans

Online
Investments