I Deposited A Check Into My Checking Account And Received A Receipt, But When I Wrote Checks On The Account They Were Not Paid By My Bank Due To Insufficient Funds. Can The Bank Do This?

The short answer is . . . it depends.

Any time you deposit a check drawn upon another’s account into your account, the bank gives you a provisional credit on the account. The bank is placing a hold on the deposit. How long a bank delays crediting the entire amount depends on the amount of the check.

General Rules

In general, if the check you deposited is less than $5,000 you are entitled to at least a $200.00 credit the first business day following deposit. For checks over $5,000.00 the bank must credit your account on the second business day following deposit.

Exceptions

If your account has been opened for less than 30 days the funds might not be available until the 9th business day. If your account has been overdrawn for two or more business days in excess of $5,000 in the previous 6 months, the bank can hold the credit for 7 business days. Insurance checks have different rules as do some government checks.

Attorney at Law

Blado Kiger Bolan, Tacoma, Wash.