Manage Your Checking Account with Ease Regions Bank

Cashier’s checks are drawn against the bank’s funds rather than a person’s account and can offer more security and protection against check fraud. Funds availability refers to when you can access money that you’ve deposited with your bank to pay bills, make purchases and cover everyday expenses. With some exceptions, money that you add to your checking account or savings account isn’t always available to use right away.

Why does Regions place a deposit hold?

Be The Budget may have financial relationships with the merchants and companies mentioned or seen on this site. So, what follows are a few banking terms with which you should familiarize yourself. Pending amounts are shown for each translation that is waiting to be cleared. They are totaled and added to your current balance but your available balance to be used may be lower.

A pending deposit is money that has been deposited into a bank account but has not yet been authorized for use. When you deposit money into your checking or savings account, the money will show as ‘pending’ until the funds are verified and added to your available balance. Lastly, be careful when accepting check payments from unknown or untrusted sources. For example, if you’re selling a car, and someone wants to pay you with a personal check, it may be safer to ask for a cashier’s check.

An enhanced view of your balances can help you avoid overdrafts and fees. Regions Now Banking® suite of products and services let you manage cash, make purchases and manage your everyday spending. Simply put, a posted transaction is any money that you moved out of your bank account (whether for a purchase, or anything else) that has been officially approved by the bank. There are a few reasons why your pending deposit may have disappeared.

Overdraft Protection

Otherwise, you may end up overdrawing your account and putting yourself in a difficult financial situation. For instance, if you make a deposit on Monday, you’ll typically have access to the money by early Wednesday morning. As frustrating as this waiting liabilities on balance sheet period may be, it is important for your bank to verify each and every deposit made into your account.

Can A Pending Deposit Get Declined?

Placing a hold on those deposited funds in the meantime allows the payment to clear your account. Federal regulations allow banks to put a hold on certain deposited funds for a set period of time. When your deposit will become available would depend on what type of deposit you made and the type of hold applied. Regulation CC governs funds availability which defines the length of time a bank can hold certain deposited funds.

1. Again, this information should be delivered to you by the bank as part of your account agreement, and you also may be able to find it at your bank’s website.
2. Banks can also see your pending deposits, so you can contact them at the customer service number to inquire about them.
3. The Act also requires banks and other financial institutions to inform customers about their funds availability policies and how they work.
4. As mentioned above, this can create headaches for both you and the bank, especially if you’ve used funds from a bounced check to pay bills or make purchases.

For example, let’s say that you’re selling your house and expect to pocket $40,000 at closing. Your closing attorney gives you the option of receiving a paper check or a wire transfer. In this scenario, the wire transfer may be better if your bank makes those deposits available the same or next business day. While you may pay a fee for a wire transfer, it could be worth the convenience of not having to wait two to five business days or more for a paper check to clear. Depending on the type of deposit involved, it can take several days for the money you deposit to be transferred from the payer’s bank to your bank.

Customers who qualify as a member of Preferred Banking programs have a $10,000 daily and $25,000 monthly limit. Private Wealth Management clients should contact their Wealth Advisor for limits. Want higher deposit limits and personalized service with a dedicated banker? Learn more about Preferred Banking programs and details on eligibility. It is important to note that pending transactions are immediately subtracted from your available balance.

Alternatively, the deposit may have been returned due to insufficient funds or an incorrect account number. If there is enough money, your bank will approve your deposit and add it to your available balance. If there is not enough money in the payor’s account, the bank will decline the deposit, and remove it from your bank account, entirely. Rebecca Lake is a certified educator in personal finance (CEPF) and a banking expert. She’s been writing about personal finance since 2014, and her work has appeared in numerous publications online.

If a hold is placed on a deposited check, Regions will notify you and will typically adhere to standard procedures and processing times. If you have questions, please visit your closest branch to discuss the hold and any available options. Update your available balance as we receive your transactions throughout the day. The balance you see includes everything we know about your checking account activity (even pending checks that have been presented for payment against your personal account). Every day, your bank adds up your transactions and any approved deposits in order to determine the remaining amount of money in your account.

Mitch has more than a decade of experience as personal finance editor, writer and content strategist. Before joining Forbes Advisor, Mitch worked for several sites, including Bankrate, Investopedia, Interest, PrimeRates and FlexJobs. As a Financial Coach and budget-savvy military wife, I love showing others how to make the most of their money. My aim is to help you gain the knowledge you need to manage your personal finances better.

After the cutoff time, the deposit will be processed with the next day’s batch of deposits. Under Regulation CC, banks must follow the Federal Reserve guidelines for determining how long to hold checks. As mentioned above, banks can only hold checks for a “reasonable period of time,” as defined by Regulation CC. It may hold payments received for up to 21 days to verify transactions were completed successfully. Once eBay determines that an order has been delivered, funds on hold can be released to you within 24 hours.

The PayPal funds availability policy allows for funds credited as a pending balance to be held up to 21 days. This allows PayPal enough time to ensure there are no problems with the order and the customer is satisfied before releasing the money to you. A funds availability delay or delayed funds availability refers to the holding period banks impose when crediting deposited items to a customer’s account. Banks can place a hold on checks if there’s a possibility that the check may not clear. Any deferred funds availability policy should be spelled out in the bank’s funds availability disclosure.