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Brazos Valley | Find a new bank. My bank got bought out by Truist, not a month later damn near every deposit I made got a 7 day hold and any over $20k were a 10 day hold. I have never bounced a check in or out and we always had cash many times the deposit on the bank. I might understand if I had $5k in the bank and deposited a $50k check to put a hold but not when it may be the other way.
I warned them I would not continue my business there if they didn’t share the proceeds they were making from using my money interest free for 7 days and a few weeks later they acted shocked when I came in to close all 11 of my accounts. Moved to a regionally owned bank and have never been treated better. They’re even paying me 4.8% on one of my holding accounts that I use to put down payments from large jobs into. Never got that from the old bank.
There is no reason to hold your deposits in this day and age unless you’re a notorious check bouncer.
Caleb | |
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Bank holds on deposits above $5525?
