Why would a major bank put a ten business day hold on a US treasury check?

Question

The check is over 5,000,the account has never been overdrawn,no bad checks etc...I thought US treasury checks were considered low risk.The bank said its because they had one that was returned recently.Somehow I don't believe them.Any thoughts?

Update:

And no I am not leaning towards the whole conspiracy thing you dork.I am just genuinely surprised that there's even a hold so be nice

tro · Accepted Answer

that must be their policy regardless of the source of the check

Howard L · Answer

It's very easy to counterfeit anything with a computer, scanner, and a good printer these days.  It takes a while to confirm the check is good.  It's usually honored in much less than 10 days but the law allows 10 days so that's what the banks say.  People are counterfeiting money on a computer and getting away with it.  Checks are a lot easier than currency to counterfeit.

The Oracle of Omigod · Answer

1.  They don't trust you.  2. They are taking advantage of the cash float.

Caren · Answer

they say 10 days,,, but in real life it clears much faster,,, credit unions are the worst for holding checks a long time

Anonymous · Answer

Its a worldwide conspiracy against YOU.

Or, they&#x27;re telling you the truth.

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Why would a major bank put a ten business day hold on a US treasury check?

5 Answers