Check Holds Explained: How Long Can Banks Hold Your Money? | Jay Get It

Описание: Welcome to Jay Get It — your trusted source for mastering the money moves that matter. In this episode, we break down the truth about check holds, why banks place them, and how long they can legally hold your money.

💡 What You'll Learn in This Video:

What is a check hold and why do banks use them?
How the Expedited Funds Availability Act (EFAA) and Check 21 changed the game
What Regulation CC says about deposit availability
Which checks and deposits must be made available faster (cashier’s checks, direct deposit, etc.)

Tips to avoid unnecessary holds and make smarter deposit decisions

📘 Key Topics Covered:

Check Hold Time Limits (Local vs Non-local checks)
Federal Reserve rules on exceptions since 2010
The impact of the Check Clearing for the 21st Century Act (Check 21)
Bank disclosure requirements for hold policies
When you can access your money after making a deposit

🔍 Whether you’re a student, small business owner, or just trying to make sense of your bank statement, this video will help you understand how check holds work and how to navigate them with confidence.

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