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Strategies & Market Trends : Tech Stock Options
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To: ViperChick Secret Agent 006.9 who wrote (56364)10/26/1998 1:26:00 PM
From: otter   of 58727
 
Lisa, I'm not a banker; but its my understanding that Federal law allows banks to put a hold of as long as 5 days on an interstate check. The federal laws were changed in the early 80s. Prior to that, there were NO limits; and banks routinely got away with 21 day holds (I know. I had a few like that.)

A few years ago, I had a small run-in with my bank on this matter. To make a long story short... Deposits made at ATMs get an automatic hold. Deposits made at the drive in window - automatic hold. Deposits made in person - in the bank - get a hold if you look like a derelict because it's up to the teller.

My take-away: Dress up. Go into the bank. Be nice to the Teller. And ask.
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