What law allows a bank to hold your check for ten days? and Bank of America building

What law allows a bank to hold your check for ten days?

The check cleared the originating bank in 3 days but my bank still has not given me credit?


bank best answer:

Answer by STEVEN F
You CAN'T possibly know the check cleared the originating bank. Even if the funds were removed from the makers account, that does NOT mean the check has cleared. The laws allows holds for a FIXED amount of time regardless of if the check EVER clears. Even after that time, the check CAN be returned.

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Bank of America building


Image by Franco Folini
Bank of America building
Amedeo Giannini Plaza
San Francisco, CA

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Bank of America was founded by Amedeo Peter Giannini, born in San Jose, CA from Italian parents.

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