Check deposit being held for unclear reasons

Issues/complaints Forum
1

Hey everyone, trying to keep this brief. I recently got financial assistance from my city government, and the check was from Wells Fargo. I bank with Chase. I’ve been on unpaid disability leave for a month and my account’s gone into overdraft a few times from automatic payments.

The check was issued on 8/22, and I deposited it via mobile on 8/29. Chase has put a hold on it until 9/10, and they said it’s because Wells Fargo hasn’t approved the funds. It’s been over a week, and now I’m concerned something else is going on. I noticed that the zip code on the check is different from mine. Could that be causing an issue? Everything else seems fine.

I’ve contacted my bank multiple times and even sent an email to my city treasurer, but I’m not expecting a quick response. I’m really stressed out and can’t sleep over this. Any advice or info would be super helpful. Thanks!

2

Chase is probably gonna put 7-day holds on all checks deposited via mobile or ATM for a while now.

3

Clarke said:
Chase is probably gonna put 7-day holds on all checks deposited via mobile or ATM for a while now.

I’ve had my Chase account since the '90s, and usually, there are minimal holds. But I think you’re absolutely right. Chase is cracking down hard after that fraud scheme last weekend. They’re turning over data and video footage to authorities.

4

@Brianna
Those people are going to get caught for sure.

5

@Brianna
Wait, was there something in the news I missed?

6

Linda3 said:
@Brianna
Wait, was there something in the news I missed?

Yeah, NBC News did a piece on it. Check it out: Chase Bank says it is aware of viral 'glitch' inviting people to commit check fraud

7

@Brianna
Thanks for the link! Much appreciated.

8

Linda3 said:
@Brianna
Thanks for the link! Much appreciated.

You’re welcome! Hope it helps.

9

Clarke said:
Chase is probably gonna put 7-day holds on all checks deposited via mobile or ATM for a while now.

Wow, I had no idea about that TikTok fraud thing until now. I get why they’re being more cautious. I might just start going in person for deposits from now on!

10

@Bowie
Wait, are we talking about that TikTok scam where people deposit fake checks and withdraw the money before it clears?

11

Linda3 said:
@Bowie
Wait, are we talking about that TikTok scam where people deposit fake checks and withdraw the money before it clears?

Yep, that’s the one! Can’t believe they thought that would work. Banks always win in the end. :sweat_smile:

12

@Bowie
Haha, good point! It’s like the bank is thinking, ‘We will not stand for this!’ and then put everyone on hold. :rofl:

13

@Bowie
Also, note that mobile deposits often come with longer hold times.

14

It’s likely a standard check hold. Chase is cautious due to the recent uptick in check fraud, especially with mobile deposits and accounts with overdrafts. The zip code issue probably isn’t the problem. You may just have to wait until 9/10 for the funds to clear.

15

@Gale
Thanks! Learning about this whole TikTok fraud thing puts it into perspective. I’ll wait it out.

16

If Chase put a hold until 9/10, it’s likely not going to clear before then.

17

It’s likely just a standard hold, especially with the overdraft history and the recent TikTok fraud. With the holiday coming up, it probably feels like a long wait, but it’ll clear soon.

18

MissNicklaus said:
It’s likely just a standard hold, especially with the overdraft history and the recent TikTok fraud. With the holiday coming up, it probably feels like a long wait, but it’ll clear soon.

Yeah, I can wait. Just making sure I have the right info to give my landlord! Thanks for the insight.

19

It’s probably due to the overdrafts. Banks don’t want to front money if they think there’s a risk, especially with larger checks.

20

Niall said:
It’s probably due to the overdrafts. Banks don’t want to front money if they think there’s a risk, especially with larger checks.

Good point. The check was a decent amount over $5,000, so I get why they’re cautious. I did manage to get a smaller check released, which helped!