I never knew that a bank has the right to withhold funds from a check deposited into an account. Recently, I deposited a rather large dollar amount check from an investment account into my Chase savings account. I discovered that Chase put a hold on the funds for seven business days. I checked with the investment company and found that the funds were transferred on the date of my deposit. I spoke with Chase bank representatives, both in person, via secure online messages, and via telephone. Even though I provided proof of the transfer, not one person could provide a reason for the bank holding the funds. I've been a Chase customer for more than twenty years. Because of the above, I will be moving my business to another bank.
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