BoA Check clearing question-does it take 9 business days?

F

Freddi

New member
I deposited a check for over 20K in our local bank checking account on Sept. 15, 2009 and was told that 5K of the amount would be available in three business days and the remaining balance would not be available for NINE BUSINESS days (weekends don't count), that would bring the available date up to Sept 29, 2009. I have searched on the net to find the FDIC rule about this to no avail...would someone have an actual link so that I can find out if this is true? That seems like an awfully long time for a bank check (even if it IS BoA ;-) to have to wait for the funds. Thanks!
 
They pulled that stunt on me. Held it 10 days. After banking with them for 25 years I closed the account. Utterly ridiculous in this day of computers to freeze those funds. Talk about kiting.
 
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