16 day Check Deposits hold times?
Summary of User Concerns and Solutions:
- The main problem reported is the frustration with banks imposing holds on funds transferred into new accounts, affecting customers who have no prior issues with checks bouncing.
- One suggested solution is to wait for the hold period to end, as funds will eventually be available for withdrawal.
- Another point raised is that the hold policy seems overly strict, especially for long-time customers who are not new to the banking system.
Here’s the full thread
understandable if an individual has had a prior issue or checks bouncing, however ridiculous to punish those who have never been flagged.
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It’s not only checks. We opened a new account and transferred funds ACH not knowing about the holds and that money now can’t be withdrawn.
You can, you just have to wait a while.
Yeah it’s been 12 days so fsr but I’m reading some people took over 16
Yeah, they have to do this so people dont commit check fraud
Yesh I’ve read the news as well. I’m just surprised like the OP was that they didn’t limit this to new customers. This may be a new account we transferred money into but we have both been been Fidelity customers for a long time. The strategy seems like a little heavy handed.