When you deposit a check sometimes the funds are not immediately available, and this is called a “hold.” Holds can be placed on checks for a variety of reasons.
For example, if a check is over $5,000, many banks will place a hold on the deposit for a set number of business days.Other reasons would be if a check is postdated or written more than six months prior to the deposit date. The purpose of a hold is to make sure the check is good — or that the bank receives the funds from the paying institution — before giving you access to the funds.
There are many factors affecting how long a check will be on hold, but typically checks will clear and holds will be lifted in five business days or less.
For more information, see Funds Availability Disclosure in your deposit account agreement.