Answers about Funds Availability

Can the bank place a hold on a payroll check?

Yes. When funds become available for withdrawal primarily depends on the type of deposit. While all national banks are subject to the same maximum hold periods established by law, each bank may make deposits available sooner.

A bank can make the deposit available immediately or delay availability up to the maximum prescribed by law.

If your payroll check is a direct deposit, then national banks must make funds available for withdrawal on the payment date. This is the date on which funds are actually payable—not the date received by the bank.