I made a mobile deposit on Feb. 11th with a check from The Bank of New York. At first the check was placed on hold because the camera only captured 2/3 of the check image which allowed it to still be accepted but at the same time placed the check on hold. I spoke to someone above the customer service rep level that explained to me because only a partial image was captured the check was placed on hold, but the agent went ahead and released the funds because he said he was familiar with checks from the issuing bank. On Mar. 9th, I went to the UPS Store and deposited another check from the same issuing bank and same company. Again, the check is on hold until Mar. 17th...
So my first question is why was the check placed on hold again even though its from the same issuing bank, which according to your employee, there is some familiarity with the issuing bank? Last time I spoke with someone above the customer service rep level, I was told the hold issue was due to the camera not capturing the whole check. Now, I know that transactions go through the Federal Reserve, but I also know from speaking with the issuing bank that my bank could always call and verify funds, but it's up to my bank if they want to go that extra step. It's apparent from talking with the customer service rep this morning that she was not open to the idea of verifying the funds or transferring me to someone that would've gone that extra mile.
And my second question is where does the accrued interest go for the seven days that my check is on hold? I've had this account for almost a year now but it's just recently that I've started having these issues with depositing checks, but not with money orders.
