What type of hold is a 2 day hold on a check?

What type of hold is a 2 day hold on a check?

• A. Exception hold
• B. Regular hold
• C. New account hold
• D. New account exception hold

Answer: (B)

The idea being tested is how banks handle funds availability after a check deposit. A two-day hold is the standard regular funds-availability hold used for most checks. It’s the typical amount of time banks reserve funds while they verify and process the check. Other holds—such as exception holds, new account holds, or new account exception holds—come into play only in special circumstances (extra time needed due to risk, or rules that apply to new customer accounts). So a 2-day hold on a check is best described as a regular hold.

The idea being tested is how banks handle funds availability after a check deposit. A two-day hold is the standard regular funds-availability hold used for most checks. It’s the typical amount of time banks reserve funds while they verify and process the check. Other holds—such as exception holds, new account holds, or new account exception holds—come into play only in special circumstances (extra time needed due to risk, or rules that apply to new customer accounts). So a 2-day hold on a check is best described as a regular hold.