Bank is keeping my money!
April 14, 2011 1:11 PM Subscribe
How long can my bank hold a deposit?
posted by Shark Tail to Work & Money (17 answers total)
I bank at Bank of America in Maryland and my husband made a deposit on Tuesday (not a large deposit) that had two cashiers checks and a rent check from our basement tenant. Wednesday morning the bank decided to place a hold on 75% of the deposit. We called to ask what it was about and the supervisor told us they would mail a letter that would explain it all, but no one could explain it to me except that the full deposit should be available on Friday. Is it legal for them to hold this and for how long?