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Delaware Banking Questions & Answers
1 Answer | Asked in Banking for Delaware on
Q: Is it legal for a bank to hold a $5000 check for more than 5 business days?

I deposited a $5000 check on January 29th. On Tuesday February 2, I contacted the bank and ask how long would it take for the check to clear. I was told that the funds wouldn't be available until February 8th. I told them their website stated that a check for $5000 would be held UP TO 5... Read more »

Bruce Alexander Minnick
Bruce Alexander Minnick answered on Feb 5, 2021

When counting business days Banks do not count the date of the deposit--in this case Friday January 29.

So count with me: Monday February 1 was the first business day;

Tuesday February 2 was day #2;

continue on counting through Friday February 5, which is business day #5;...
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