Answers about Funds Availability

How long can the bank place a hold on government checks (e.g., social security and treasury checks)?

Generally, a bank will make funds deposited into an account by a government check available for withdrawal not later than the business day after the banking day on which the funds are deposited into an account held by the payee of the check and in person to an employee of the bank. For U.S. Treasury checks, the same deadline applies when depositing the check at an ATM owned by the bank where you deposited the check.

A bank may require that a special deposit slip be used for state or local government checks and certified, cashier or teller checks to qualify for next day availability.

July 2017