When you deposit a check at Bank of America, the availability of the funds can vary depending on several factors including the amount, the type of check, your account status, and when the deposit is made. Key points about check deposit availability at Bank of America are:
- Typically, funds from check deposits are available the next business day if the check is deposited before the cutoff time on a business day.
- Deposit holds usually range from 2 to 7 business days, depending on the reason for the hold, such as check amount or account age.
- For checks over $6,725, holds can last 5 to 7 business days.
- New accounts (less than 30 days old) may experience longer holds, sometimes up to 9 days.
- Deposits made after the cutoff time or on weekends and holidays will be considered deposited on the next business day, with funds generally available the business day after that.
- Bank of America may notify you if a hold is placed and inform you of the expected availability date.
- Some portion of the deposit may be made available immediately or the next day depending on account status and risk assessments, but same-day availability is not common unless you're a private or wealth management client.
- Electronic payments such as direct deposit, ACH, wire transfers, or Zelle® are typically available the same day they are received.
In summary, if you deposit a check on a business day before cutoff time, you can generally expect the funds to be available the next business day unless a hold is applied due to certain conditions like check size or account status. Holds can extend from 2 to 7 business days, with notifications provided if this occurs.
