Why Is My Check On Hold TIPS

Checking accounts aren’t just used for checks anymore. There are debit cards, direct deposits, ACH payments, and other ways to manage your account without ever seeing an actual check, but we still do see a good deal of checks pass through our doors.
Diamond Credit Union is located in Boyertown, Exeter, Pottstown, the Reading Health System, and Pottstown. Learn more at diamondcu.org.

In this age of automatic payments it may seem strange that if you bring in a paper check you won’t necessarily get instant access to those funds. Even with all of the advanced technology that we have today, a check is still just a piece of paper and it actually takes days for any financial institution to discover if a check they’ve deposited from another financial institution is good.

Because of this, the government created a system to allow banks and credit unions to put a 2 to 7 business day hold on checks deposited into a checking account.

Tellers will look at the check very carefully for anything out of the ordinary to protect our members and the credit union from fraud or other issues. Checks that are likely to be put on hold are unfamiliar personal checks, checks for a high dollar amount, or uncommon checks that are for more money than the member has in their account.

If your check is put on-hold you will be notified, either by the teller at the time of deposit, or through a letter or E-notification. Please refer to our Funds Availability Agreement, in your membership booklet, for more information, or just ask us.