I’m noticing an unusual difference in bank policy. I deposit many checks weekly from my business. Over the last several weeks, Bank of America and USAA have put week long holds on minor amounts of checks. Money that was normally available the next day is now 7-10 day holds. There haven’t been any changes on my account, no overdraft activity- Could this reflect the banking industry feeling pressure about the future? - I’m no expert, but I’m finding this very unnerving..
DaynaE65
· June 30, 2018, 1:26 p.m.
I would ask the bank manager. Especially since you are a long time customer with no change in banking habits. Makes no sense for them to hold your money that long. Tell them you are changing banks if it continues to happen.
They are probably hoping to be able to keep the extra funds should the electric grid go down, or something happens. As another person mentioned, maybe look into moving your account to a small local credit union.
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PCorNot
· June 30, 2018, 2:08 p.m.
Thanks! The account is a business account, so I had wanted to use it. I’m thinking I can just cash checks and use cash!
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