I deposited a check. When will my funds be available? (2024)

FAQs

I deposited a check. When will my funds be available? ›

Generally, a bank must make the first $225 from the deposit available—for either cash withdrawal or check writing purposes—at the start of the next business day after the banking day that the deposit is made. The rest of the deposit should generally be available on the second business day.

If your deposit is a certified check, a check from another account at your bank or credit union, or a check from the government, you can withdraw or use the full amount on the next business day if you make the deposit in person to a bank employee.

Once you receive a check, you may not have immediate access to the full amount when you deposit into your bank account. Usually, it takes up to two business days for a deposited check to fully clear.

Another reason your check or cash deposit may not be showing up as planned is that the bank put an exception hold on the funds, which allows it to hold the deposit for a period that is longer than the standard hold periods established under the law.

Banks are required to make direct-deposit funds available for withdrawal not later than the business day after the banking day on which the bank received the electronic payment. For instance, funds direct deposited on a regular, non-holiday Monday would be available by Tuesday.

Bottom line. In most cases, a check should clear within one or two business days. There are a few cases in which a check might be held for longer, such as if it's a large deposit amount or an international check. Make sure to review your bank's policies for what to expect in terms of check hold times.

The role of business days and holidays

If you deposit cash, that money goes directly to your account and will be ready for you to use immediately. But for checks and other items that might need verification (to protect you and the bank), the money usually won't be available until the next business day.

While a check may clear on the same day it's deposited, it often takes around two business days for a check to clear.

When you submit your check through a mobile deposit, you may be able to have access to some of the funds within a few minutes to the next day, depending on your bank or credit union. Some banks will allow a small amount of the money to be available before a check is cleared, usually around $200.

The check will move from the deposit bank to the drawing bank as part of the check clearing process. The process starts when a check is deposited to a bank. The bank will then set about contacting the drawing bank. The check is cleared when the depositing bank has received the check and funds from the drawing bank.

Why does my check say deposited but no money? ›

Your bank may hold the funds according to its funds availability policy. Or it may have placed an exception hold on the deposit. If the bank has placed a hold on the deposit, the bank generally should provide you with written notice of the hold.

For mobile deposits, the bank may notify you with a confirmation that the check went through. But the bank has the right to return the deposit even after the confirmation is received.

Deposits made to a Bank of America account are not available for immediate withdrawal. Unless a hold is placed, deposits on a business day before cutoff time will be processed that night and are generally available the next business day. To learn more about holds and how to avoid holds, visit the Deposit Holds FAQs.

Generally, a bank must make the first $225 from the deposit available—for either cash withdrawal or check writing purposes—at the start of the next business day after the banking day that the deposit is made. The rest of the deposit should generally be available on the second business day.

The refreshes usually take place sometime between 2 AM and 6 AM, in the local time of the capital of the country where the financial institution is located. Some banks require manual refresh, for example, if your bank uses Multi-factor authentication (MFA).

Many popular banks such as Ally Bank, Axos, SoFi and PNC offer instant mobile deposit availability.

You'll normally need to wait 1 working day after the day you pay the cheque in for it to clear, so if you pay a cheque in on Monday (before 3.30pm) it will usually clear by Tuesday.

Here's how long it generally takes for a check to clear: Usually within two business days for personal checks but up to seven for some accounts. Usually one business day for government and cashier's checks and checks from the same bank that holds your account.

After successfully depositing your check into an ATM, you'll likely be wondering how and when you can access your cash. Many banks make check deposits available within two business days, and some may process them even faster.

Many popular banks such as Ally Bank, Axos, SoFi and PNC offer instant mobile deposit availability.