Can a bank hold your money as long as they choose, after closing the account. if not what can I do?

so on the 21 of Sept my bank closed my account after I put in a check for $7,500.00 and also my direct deposit from my job. I went in a spoke with a rep and they gave me the usual that per the contract we sign the bank could close my account when they feel like without giving a reason. Now I accepted that but I inquired about my money while in the bank I was told to call customer service, when I called customer service that told me to go in a branch. By this time I'm pissed but I was finally told that after complete closure they would send me a check. Now on October 16 I received a check totaling $680.94 ( my direct deposited) but no check for $7500.00. Now I contact them they said they were holding the funds to investigate where the funds came from (which I gave them my attorneys number and email and the documents (forgot to mention contact the issuing bank and they said the check cleared there bank 3 weeks ago) then I was told that my funds would be return. I was finally told they would not be giving me the funds in fear the bank would request it back. So tell me what is it can I do. 

4 Answers

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  • Erik
    Lv 7
    3 weeks ago

    Talk to your lawyer

  • kate
    Lv 7
    3 weeks ago

    Sue them in federal court

  • 4 weeks ago

    They've obviously got a problem with this $7500 check.  All you can do is wait for it to clear.  They're certainly not going to cut you one of their $7500 checks till the check you gave them clears.  And this appears iffy (to them).  

    • Jermaine3 weeks agoReport

      The check was awarded to me thru a settlement when i went to deposite it i provided my branch manager with everything that detail where it was comming from etc

  • 4 weeks ago

    You can be patient and wait.  There are different levels of security checks and the check has to go from point to point for authentication.  If it was not suspect in the first place, the money would have been available to you immediately but it WAS suspect, so you have to be patient and wait until it has cleared ALL of the channels.  If it is determined that the check is good, then you will get the money.  They have a right and responsibility to make sure that the check is good.

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