So, should banks be able to withhold your cheques??

My bank withholds any cheques, even corp ones from me for 5 business days, i have a good credit rating with them, i have been there for over a year now, isnt it illegal to do that???

So, should banks be able to withhold your cheques??loan

I have a hard time believing that a bank would continue to hold your funds unless 1. You maintain a small average balance relative to the size of the checks you depost or 2. You have a history of overdrafts. If neither of the above are true then you%26#039;re with the wrong bank and need to switch. And no, it%26#039;s not illegal and is disclosed in the terms and conditions provided to you when you opened your account....the disclosures generally provide the bank the right to place a hold on any check for whatever reason they may seem appropriate but are limited by the regulatory authorities as to how long they can hold the funds prior to releasing them to you.

So, should banks be able to withhold your cheques?? loan

change banks|||Not illegal - but pretty darn inconvenient. Change banks.|||Change Banks .........you dont have to put up with that chit