Question:

Can bank of america put a second hold slip on my money?

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i deposited a check for $5,000 on the 14th, received a hold slip saying my money would be available on the 23rd, but it's past that date and my money is still not available. is it normal for banks to put a second hold slip like this, and what's a reasonable amount of time to expect my check to fully clear?

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3 ANSWERS


  1. Is the check on a local bank?  Even an out of State check will normally clear in 5 to 7 days.  You probably need to call the bookkeeping dept. at your bank and ask them what the problem is.


  2. You need to call Bank of America and ask them why the money is not available.  You may have received an initial, standard hold slip when you deposited the check and at some point, they felt there was reason to think the check might be returned so they placed an extended hold and you have not gotten the notice yet.

    Always call your bank when you have a problem with any account.  They are the best ones to answer your questions.

  3. It is all going to depend.

    1) Your history with them will always matter first.  Returned deposits, overdrawls, how often you use the account etc....

    2) Where was the check written from in location to where you deposited it.  Say your in Washington and the check is written out of Delaware.  The first two numbers of the routing number will tell you that.  

    3) They can't really hold a check if it isn't over $100 becuase the first $100 has to be made available to you right away.

    I would call your back and ask them what the situation with the check is.  It may have been on hold for however long they put it on hold at first and when the time came for the check to be taken off hold it hadn't cleared yet.

    Also checks written off of a credit card have a mandatory 10 day hold.

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