We understand how important it is for you to be able to access your funds when you need them. We also know it can be an inconvenience to have a hold placed on one of your deposited checks. The following information is intended to help you better understand deposit holds, including what they are and why we might place a hold on a check you deposit.
1.What is a hold?
A hold may be placed on a check that you deposit that delays availability of those funds for use. Deposit holds are placed for a defined time, as allowed by Regulation CC and the Regions Deposit Agreement, to help reduce the risk of making funds from check deposits available for withdrawal before learning whether the checks return unpaid. During the time a deposit hold is in effect, you should not write checks against or attempt to withdraw the held funds. Holding funds is done to protect you as the customer from the consequences of a returned check, as well as Regions Bank. Please note that a check may still return after the hold period expires.
2.Why does Regions place a deposit hold?
We typically make all or a portion of the funds from a check available to you on the first business day[1] after you make the deposit. In some instances (depending on the type of check), we may not make funds available until the second business day, in which case we will make $225 of the deposit available on the first business day. There may also be times when we place a longer hold on some or all of the funds. This can occur for a number of reasons, such as:
- We have reason to believe the deposited check won’t be paid.
- You deposited checks exceeding $5,525 on any one day.
- Your account has been open less than 30 days.
- You redeposited a check that was already returned unpaid.
- You have overdrawn your account numerous times in the past six months.
- There is an emergency, such as a system failure.
For reference, see the Funds Availability Policy section of the Regions Deposit Agreement.
3.How do I know if a hold has been placed on my deposit?
If the hold is placed on a branch deposit while you are at the branch, your Regions banker will inform you of the hold and provide you with an official hold notice. If the bank places a hold on a deposited check after you have left, we will mail the official hold notice to the address associated with your account in our records. If we place a hold later on funds from a check you deposit, we may send you a courtesy hold alert[2] via email if we have a valid email address on file for you so that you can know about the hold sooner. If you have also signed up to receive deposit hold alerts via SMS/text or push[3], we will also let you know about the deposit hold through the channel you selected.
4.How can I help prevent holds on my deposits?
You can encourage businesses or individuals paying you to use other payment options, including direct deposit, Automated Clearing House (ACH) payments, online transfers, wire transfers, and peer-to-peer services such as Zelle ®. These payments are typically made available sooner.
5.How do I remove a hold on my deposit?
Customers cannot remove holds on deposits. If a hold is placed on a deposited check, Regions will notify you and will typically adhere to standard procedures and processing times. If you have questions, please visit your closest branch to discuss the hold and any available options.
6.Are holds illegal for banks to impose?
No. Deposit holds are important to protect both customers and banks. Holds may be placed on deposited items through various channels. Federal regulations allow banks to put a hold on certain deposited funds for a set period of time. When your deposit will become available would depend on what type of deposit you made and the type of hold applied. Regulation CC governs funds availability which defines the length of time a bank can hold certain deposited funds.
7.Can I use any of the held funds prior to the hold expiration date?
You may not use the held funds until they are made available. Please review your hold notice to determine the funds availability date; you may also check your available balance in Regions Online Banking or at your nearest branch. To avoid fees, please do not attempt to withdraw or write checks against held funds.
8.Can I (or the bank) work with the paying party (or the other bank) to verify the funds have cleared on their side?
Unfortunately, we do not accept verification from the paying party or maker bank that a check has cleared the originating bank account in order to release a deposit hold due to various risk and legal factors, including potential fraud.
