Bank of America Deposit Holds: What Are They and Other FAQs (2024)

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We know having access to funds is important to you. We are in the process of validating the check and collecting the funds. For this reason, it is important to know that Bank of America service representatives are not able to release deposited funds that are on hold.

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You can avoid a hold on your deposit by encouraging individuals and business entities paying you to use electronic payment solutions such as direct deposit, Automated Clearing House (ACH) payments, online transfers, wire transfers and peer-to-peer services such as Zelle®. These types of payments are typically available the same day they are received or scheduled to occur.

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When you deposit a check, some or all of the check amount may not be part of your available balance for a period of time. This is done for the purpose of validating the check and collecting the funds from the issuer of the check.

In some cases, your funds may not be available because your deposit was made after the cutoff time for that particular day. Please visit our Cutoff Times for Deposits, Transfers and Payments page for more information.

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The hold allows us (and the bank paying the funds) time to validate the check – which can help you avoid potential fees in the event a deposited check is returned unpaid. Keep in mind, though, that a check may still be returned unpaid after funds have been made available to you. Please refer to your Deposit Agreement and Disclosures for complete information.

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We inform you of a deposit hold in a variety of ways, depending on how the deposit is made:

  • ATM deposit: We’ll tell you of any hold on both the ATM screen and your printed receipt.
  • Financial center deposit: Your deposit receipt will include a notice of any hold.
  • Mobile deposit: The deposit confirmation screen on your device will tell you of any hold.
  • Email alert: If a hold was not originally placed when you deposited the check and we later determine one is necessary, an alert will be sent to the email address you’ve provided to us.
  • Mail notification: If a hold notification wasn’t provided at the time the deposit was made (for example, a deposit you make by mail), a hold notice will be sent to the mailing address you’ve provide to us. If you’ve opted in to receive paperless documents, you can view the hold notice in your Online Banking account.

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Deposit holds typically range from 2-7 business days, depending on the reason for the hold. For deposits made on weekends, funds are considered deposited on Monday (the first business day), so the hold will go into effect the next business day (Tuesday).

In some cases, the length of the hold can change based on new information we may receive or discover. If this happens, you will be notified promptly through mail and/or email.

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You can visit our Better Money Habits® website and view a video on how banks process deposits. This will explain further how banks process deposits and why you, or the person you wrote a check to, may not be able to immediately access the money.

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Unfortunately, due to risk factors including the potential for fraud, we can’t accept third-party verification that a check has cleared the originating bank account in order to release a deposit hold.

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Bank of America Deposit Holds: What Are They and Other FAQs (2024)

FAQs

Bank of America Deposit Holds: What Are They and Other FAQs? ›

The hold allows us (and the bank paying the funds) time to validate the check – which can help you avoid potential fees in the event a deposited check is returned unpaid. Keep in mind, though, that a check may still be returned unpaid after funds have been made available to you.

Why is Bank of America holding my deposit? ›

Banks often hold large deposits to ensure the payor has sufficient funds in their account, to prevent fraud, or to verify the check's authenticity.

What are the different types of deposit holds? ›

The following are the types of holdings provided by the EFAA:
  • Statutory Hold. Statutory holds are individual state-mandated reserve obligations for insurance companies. ...
  • New Account Hold. ...
  • Large Deposit Hold. ...
  • Exception Hold.

What is a pending debit hold at Bank of America? ›

Well, consider this: every time you swipe your debit card or make an online payment, there's a hidden process at play. Debit holds, in simple terms, are temporary deductions from your account balance, a safeguard mechanism used by banks and businesses to ensure transactions are processed smoothly.

How long can banks put holds on deposits? ›

The Federal Reserve says that a "reasonable" extended hold generally means one additional business day (total of two business days) for a bank's own checks and five additional business days (total of seven) for most other checks.

How long does it take for Bank of America to release a hold? ›

How long will the hold on my deposited check be in place? Deposit holds typically range from 2-7 business days, depending on the reason for the hold.

What is the reason for a deposit hold? ›

Common reasons for placing a hold on a check or deposit include but are not limited to: Accounts with frequent overdrafts. New customer. High-dollar deposits that exceed the total available balance in the account.

Can a bank remove a deposit hold? ›

You can ask your bank to provide an explanation for the hold or sometimes even to release the hold. In most cases, you won't be able to do anything about the hold though, and because all banks have them, you can't switch banks to avoid them either.

What is the difference between a hold and a deposit? ›

An authorization hold is an amount that you hold to make sure the guest's credit card has enough funds on it to pay for their reservation. A security deposit is an amount you hold to help cover additional costs if your property is damaged during someone's stay.

What are the three 3 types of bank deposits? ›

On the basis of purpose they serve, bank deposit accounts may be classified as follows: Savings Bank Account. Current Deposit Account. Fixed Deposit Account.

What does ACH hold mean in Bank of America? ›

An ACH hold, or Automated Clearing House hold, refers to a temporary delay placed on an electronic fund transfer initiated through the ACH network. The ACH system is a secure and efficient means of transferring funds between bank accounts in the United States.

Can I ask my bank to release funds early? ›

Some banks or credit unions may make funds available more quickly than the law requires, and some may expedite funds availability for a fee. If you need the money from a particular check, you can ask the teller when the funds will become available.

What is the authorization hold for Bank of America? ›

The authorization hold amount reduces your available balance and will remain on the account up to 3 business days when your debit card is swiped or inserted in person, or up to 5 business days when used for an internet, phone or mail order transaction.

How do you get a bank to release a hold? ›

Can I Remove a Bank Account Hold Myself? No, unfortunately, you cannot remove a hold on your bank account yourself. The best ways to expedite the process are by contacting your bank or by taking steps to prevent holds from happening in the first place.

How long does Bank of America take to clear a check? ›

At Bank of America, for example, a mobile check must be deposited by 9 p.m. ET (for Eastern and Central time zones) or 8 p.m. PT (for Mountain and Pacific time zones) for it to clear by the next business day.

Can you speed up a deposit hold? ›

Your bank might be willing to speed things up, especially if you don't have a history of bouncing checks or making bad deposits. ​In many cases, you won't be able to do anything about a hold.

Why is there a 7 day hold on my check? ›

One of the primary reasons banks hold checks is to validate them and ensure they're authentic and legitimate. They must ensure that the account from which the check is written has enough funds to clear the transaction (i.e., it's not an instance of check kiting).

What to do if a bank is holding your money? ›

File banking and credit complaints with the Consumer Financial Protection Bureau. If contacting your bank directly does not help, visit the Consumer Financial Protection Bureau (CFPB) complaint page to: See which specific banking and credit services and products you can complain about through the CFPB.

Why would a bank hold a direct deposit? ›

Banks can hold deposited funds for various reasons, but, in most cases, it's to prevent any returned payments from your account. In other words, the bank wants to make sure that the deposit is good before giving you access to the money.

Why is my bank account holding my money? ›

If you make an unusually large deposit, your bank may place a hold on bank account funds until they can verify that these funds will clear. The same applies to multiple large deposits made in a short-time period.

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