Additionally, new accounts or accounts with unusual activity patterns may be subject to extended review periods. Because these transactions are processed in batches, they require a verification period to mitigate risks associated with fraud or insufficient funds in the originating account.
Verify Identity and Lift the ACH Hold on Your Bank of America Account
When to Contact Bank of America If an ACH hold remains on your account for an unusually long time, reaching out to Bank of America is the next logical step. Why Banks Place Holds on Deposits Financial institutions, including Bank of America, implement holds on deposits as a protective measure.
The primary purpose is to confirm that the funds being transferred actually exist and that the originating account is in good standing. Typical Duration and Release For most standard ACH deposits, the hold is released within three to five business days.
Verify Identity to Clear an ACH Hold on Your Bank of America Account
The Verification Process When a deposit is made via ACH, the bank does not immediately add the funds to your available balance. Persistent holds without resolution may indicate a problem with the originating transaction that requires direct intervention from both parties involved.
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