Two situations:

1) I understand the hold time needed to be placed on a payroll check; however, there are times when a release of funds is needed.  Several years ago USAA released a high amount of funds and placed the rest on hold. Recently, I needed to purchase a vehicle and needed x amount of funds released for the down payment (my employment had not changed - same payroll company) and I got the run-around. No one had the "authority" to release more than $500.  The "only" authority came from the automated system. Since when did automated systems take over human authority????


2) I called Saturday to open a youth account for my daughter.  The first call I held around 15 minutes before I spoke with someone, then I was transfered to someone in checking and was on hold another 15 minutes.  The lady who answered - in the CHECKING department - did not have the access to open a new account. REALLY????? Again, on hold for another 15 minutes, then the line was disconnected.  I called back, was on the line for another 15 minutes, spotted a Randolph Federal Credit Union, hung up the phone and opened an account with them.  By business is going elsewhere!


I just had the same thing happen to me except I was told the funds can not be released at all ...$280 (I work pt) they first said federally mandated and would take 13 days to release...then said an executive could do it between 8-5.
Same thing, and being charged $29 for insufficient funds, while I do have money in the bank! Were closing everything!
There are reasons (new federal laws) why they have to hold funds. And personally I am glad they do. Holding funds until a check clears keeps the bank from having to investigate the mountain of fraudulent checks and other scams all banks have to deal with. Which keeps the overall cost to the bank low, which helps them keep OUR costs low. If you need cash there are other ways to get a check cashed. If you need to pay bills (immediately), cash your check and then deposit the cash, which is instantly credited to your account. Stop blaming the bank.