How Long Does It Take for a Deposit to Clear in My Bank of America Account?
In a nutshell: Waiting for a check or cash deposit to clear can be frustrating, especially when you need access to your money right away. With Bank of America, how long it takes for a deposit to become available depends on the type of deposit and when it was deposited. While some deposits may be available immediately, others can take additional time to process. Continue reading to learn more about Bank of America's deposit processing times and when you can expect your funds to become available.
Introduction
Waiting for a check or cash deposit to clear can be frustrating, especially when you need access to your money right away. With Bank of America, how long it takes for a deposit to become available depends on the type of deposit and when it was deposited. While some deposits may be available immediately, others can take additional time to process. Continue reading to learn more about Bank of America's deposit processing times and when you can expect your funds to become available.
Access Your Funds Right Away
Unless there are issues with the bank's systems, funds received through direct deposits, online transfers, wire transfers, and Automated Clearing House (ACH) payments are available on the same business day or shortly after they are deposited into your Bank of America account.
To verify if the funds have been deposited successfully, simply sign in to Online or Mobile banking. You'll be able to use it as soon as the funds are in your available balance.
Keep in mind that Bank of America may place a hold on certain deposits, which can delay access to your funds. If a hold is applied, you'll generally be notified. For example, when depositing at an ATM, information about the hold will appear on your printed receipt. For mobile check deposits, the notification is displayed on the confirmation screen.
The length of a deposit hold can vary depending on the reason for the hold, but most are resolved in 2-7 business days. If it takes more than 7 days, we suggest contacting Bank of America.
Cash and Check Deposits
Did you make a cash or check deposit at a teller window inside a Bank of America financial center? If the deposit is made before the bank's cut-off time on a business day, the funds are generally available no later than the next business day. For cash or check deposits made at a Bank of America ATM, be sure to complete the deposit before the 8:00 PM local-time cut-off. Deposits made before the cut-off time are processed on the same business day, allowing the funds to become available no later than the next business day.
Keep in mind that Bank of America may place a hold on check deposits, which can delay access to the funds. When a hold is applied, the deposited amount will not reflect on your available balance. Holds may occur if the bank has reason to believe the check won't be paid or if you have redeposited a check that has been unpaid. They may also place a hold on the check if you have overdrawn your account multiple times in the last six months.
Mobile check deposits made before 9 pm Eastern or Central Time are available the next business day. Funds deposited before 8 pm Mountain or Pacific time are available in the next business day.
Conclusion
Did you make a deposit through a night depository? Deposits made this way are processed on the next business day. If the next day falls on a weekend, the deposit will be received and processed on the following business day. Once processed, the funds may become available no later than the next business day. Other deposits that require additional processing may also be forwarded to a processing facility and received on the next business day. In most cases, the funds become available shortly thereafter. Do you have additional questions about Bank of America's deposit clearing times? Contact Customer Support today.
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