How Long Does Citizens Bank Hold Checks?

Introduction:

Citizens Bank is a well-known financial institution in the United States that offers a wide range of banking services to its customers. One of the most common questions asked by Citizens Bank customers is how long the bank holds checks. This article will explore this question in detail and provide a comprehensive answer.

What is a Check Hold?

A check hold is a temporary delay in the availability of funds from a deposited check. Banks usually hold checks to ensure that the funds are legitimate and to protect themselves against fraudulent activities. Check holds can also be placed on accounts with a history of overdrafts or bounced checks.

How Long Does Citizens Bank Hold Checks?

Citizens Bank'scheck hold policyvaries depending on the type of check and the account status of the depositor. In general, the bank will place a hold on personal checks for up to five business days. However, if the account is new or has a history of overdrafts, the hold can be extended up to seven business days.

For government checks, such as tax refunds or social security payments, Citizens Bank will release the funds on the next business day. However, if the check is for a large amount, the bank may place a hold on the funds for up to five business days.

For checks drawn on other banks, Citizens Bank may hold the funds for up to seven business days, especially if the account has a history of bounced checks or overdrafts.

How to Avoid Check Holds?

There are several ways toavoid check holds at Citizens Bank. One way is to deposit the check in person at a branch rather than through an ATM or mobile deposit. Depositing the check in person allows the bank to verify the funds and release them faster.

Another way to avoid check holds is to have a long-standing relationship with the bank. Customers with a good credit history and a history of responsible banking are less likely to have their funds held.

Conclusion:

In conclusion, Citizens Bank's check hold policy is designed to protect the bank and its customers from fraudulent activities. The length of the hold varies depending on the type of check and the account status of the depositor. However, there are ways to avoid check holds, such as depositing the check in person and having a long-standing relationship with the bank. By following these tips, Citizens Bank customers can ensure that their funds are available as soon as possible.