27
Found out my bank holds mobile deposits for two full days even if they show up right away
I deposited a check through my phone app on Monday morning and it showed in my balance right then. But when I went to pay a bill on Tuesday, the money wasn't actually there to use. I called customer service and they told me the full amount gets held for 48 hours, even though it looks available. I had no idea they did that. Has your bank ever held a mobile deposit longer than they said they would?
3 comments
Log in to join the discussion
Log In3 Comments
matthewh283mo ago
Yeah, that's their favorite magic trick. They make the money appear in your account, then tell you it's just an illusion for two days. It's like they're training us to not trust our own eyes.
8
patricia_wells3mo ago
Wait, they hold it for two days even when it shows up? I always thought once it was in the balance, it was good to go. My bank did something similar last month with a bigger check. It showed as pending but they put a longer hold on it without telling me. Made me miss a payment. Now I just assume nothing is real for at least three days.
7
olivers282mo ago
Huh, I get what you're saying, but I see it a little differently. In my experience, banks have to follow certain rules from the Fed about how long they can hold checks, and it actually makes some sense. If you deposit a check and it shows up as "pending," that's not really your money yet it's just the bank's computer seeing the check. They're waiting for the actual funds to clear from the other bank, and sometimes that takes a couple of days. I've had plenty of checks clear same day with no issues, but for bigger amounts or newer accounts, they're just covering their own backs. Your mileage may vary, but I've learned to give it a full business day before touching anything.
2