How long will my bank hold a check from Canada?
I live in the USA and my grandma is sending me a check from Canada, it is a large amount of money two checks at about $3500 each, how long do you think the hold will be on them?? I have about $2000 in my bank at the moment. And would it be better to deposit it into the ATM at my branch or go there on my day off and do it in person? Bank Of America is my bank … thanks.
The amount of the Hold will depend upon the Bank; Bank Of America in this case. According to the website, “Bank of America’s policy looks at different criteria, such as type of deposit, deposit amount and customer relationship.”.
What I have found helpful to do with a Bank is to contact them ahead of time and ask them what, if any, the hold will be. If it is within the Bank Of America’s system (e.g. if your grandma is using a Bank of America account, it should be available within a day). If it’s a Bank Check, then you should be able to get access to the money quicker. You can also ask them to contact the bank and and get an approval (prior endorsement guarantee).
Do Not use an ATM. It slows down the process because there is more cross checking that needs to be done. Just not a good idea for speedy processing.
Food Bank at Sandhills Warehouse Video