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Durkin Tactical Franklin Armory
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Posted: 3/3/2008 2:46:51 PM EDT
Say I take my weekly paycheck into my bank. Check averages $1700.

How come when I deposit it in checking it will deposit only $1000 dollars that day. 3 business days later the other $500 will go in, then 5 business days later $200 will go in.

BUT, if i want to cash the entire check, and deposit all $1700 into checking, its all ok?
Link Posted: 3/3/2008 3:14:21 PM EDT
never heard of such a thing...  

what does the bank have to say?
Link Posted: 3/3/2008 3:16:31 PM EDT
Stupid check hold regulations, possibly being misapplied by your bank.

I have been out of retail banking since 1990.  At the time I left (as a Systems Analyst), they could not hold any of a "good business check" (which includes payroll in general) if your account was over a year old.

I'm sure things have changed since then, maybe several times.
Link Posted: 3/3/2008 3:18:19 PM EDT
Your bank rep. could probably answer that better than anyone here could.
Link Posted: 3/3/2008 3:28:02 PM EDT
I put one in a few weeks ago for way over that. You need a new bank.
Link Posted: 3/3/2008 3:52:49 PM EDT
<---InfoSec guy for a bank.

Sounds like your banks policies for availability of deposited funds.  You should be able to get clarification from any personal banker or even teller at a branch as to why x% is only available after y days, as well as if the hold period is changed after z months of account inception.

It all varies from bank to bank.  If you don't like their policy, head to a new one.
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