If I deposited a check for $1000.00 at 12:00 PM on Wednesday afternoon and I had a 2 day hold placed on it when would my funds be available?

If I deposited a check for $1000.00 at 12:00 PM on Wednesday afternoon and I had a 2 day hold placed on it when would my funds be available?

• A. The full amount would be available on Friday open
• B. All funds available by Thursday branch opening
• C. The full amount would be available on Thursday afternoon
• D. $200 would be available on Thursday open; the rest on Friday open

Answer: (D)

When a check is deposited, funds aren’t always available right away because the bank may hold part of the amount while it confirms the check’s validity. For consumer checks, a common schedule is that a portion is available the next business day (often up to $200), and the remaining amount becomes available by the second business day after the deposit. Bank holds are counted in business days, not calendar days, so weekends and holidays don’t count. You deposited the check Wednesday at 12:00 PM. The next business day is Thursday, so up to $200 must be available Thursday when the branch opens. The rest of the funds ($800) would then be made available by the following business day, Friday open. So you’d have $200 available on Thursday open and the remaining $800 available on Friday open.

When a check is deposited, funds aren’t always available right away because the bank may hold part of the amount while it confirms the check’s validity. For consumer checks, a common schedule is that a portion is available the next business day (often up to $200), and the remaining amount becomes available by the second business day after the deposit. Bank holds are counted in business days, not calendar days, so weekends and holidays don’t count.

You deposited the check Wednesday at 12:00 PM. The next business day is Thursday, so up to $200 must be available Thursday when the branch opens. The rest of the funds ($800) would then be made available by the following business day, Friday open. So you’d have $200 available on Thursday open and the remaining $800 available on Friday open.