What is a check hold?

Why We Might Hold a Check—and How It Protects You

Short Answer: Check holds help us protect you and the credit union. While waiting can be frustrating, these holds are designed with your security in mind.

Long Answer: When depositing a check, you usually expect to access the money immediately. However, sometimes, we need to place a hold on a check to make sure the funds are available and the check is legitimate. Typically, these holds last between two and seven business days.

Why Might We Hold a Check? Here are some common reasons why we might place a hold on a check:

• Large Deposit Amounts: If you deposit a large check, we may hold it to verify the funds and prevent fraud.

• New Accounts: For new accounts (less than 30 days old), we might hold checks longer as a safety measure.

• Suspicious Activity: If a check seems unusual or different from your usual deposits, we might hold it to investigate further.

• Out-of-State or International Checks: Checks from out-of-state or international banks might take longer to process, so we might hold them until they clear.

• Non-Sufficient Funds (NSF) History: If you've had NSF or overdraft issues before, we may be more cautious and hold checks to ensure the check clears.

How Does This Protect You? Holding a check might be inconvenient, but it's an important safety step. Here's how it helps you:

• Prevents Fraud: If a check bounces after you've accessed the funds, you could be left responsible for repaying the money. A hold allows us to verify the check and reduce your risk of being scammed.

• Ensures Funds Availability: The hold helps us confirm that the issuing bank has the necessary funds, preventing potential overdraft fees or other financial problems.

• Account Protection: In case of suspicious activity, holding a check gives us time to investigate and protect your account from unauthorized transactions.

What Can You Do If you're concerned about a check hold:

• Communicate with Us: If you need the funds quickly, contact us. We may be able to provide more information or offer alternatives.

• Understand Our Policy: Take a moment to learn about our check hold policy so you know what to expect. This can help avoid surprises when you deposit a check.