Deposit Holds Clause Samples
The Deposit Holds clause establishes the conditions under which a deposit made by one party is temporarily retained by the other party or a third party, rather than being immediately released or applied. Typically, this clause outlines the duration of the hold, the circumstances that trigger the release of the deposit, and any exceptions or requirements for documentation. For example, in a real estate transaction, the deposit might be held until certain inspections are completed or contractual obligations are met. The core practical function of this clause is to protect both parties by ensuring that funds are securely held until specific conditions are satisfied, thereby reducing the risk of premature release or misuse of the deposit.
Deposit Holds. As more fully explained in the “Funds Availability Policy” in the Disclosures and Schedules, when you deposit funds to your account (including without limitation, electronic direct deposits; deposits by check; Mobile Deposits; deposits of cash; wire transfers; and deposits of cashier’s, certified, teller’s, traveler’s, and federal, state, and local government checks) some or all of the deposited funds may not be immediately available to you. These restrictions and holds on deposited funds affect (reduce) the availability of funds in your account, including without limitation, to pay for checks drawn on your account, debits and Freedom Debit Card purchases, ACH transactions, ATM withdrawals, fees, and any other withdrawal or payment transactions on your account. If you will need the funds from a deposit right away, you should ask us when the funds will be available.
Deposit Holds. As more fully explained in the “Funds Availability Policy” in the Disclosures and Schedules, when you deposit funds to your Account (including without limitation, electronic direct deposits; deposits by check; Mobile Deposits; deposits of cash; wire transfers; and deposits of cashier’s, certified, teller’s, and federal, state, and local government checks), some or all of the deposited funds may not be immediately available to you and will not be reflected in your Available Balance. For example, when we place a 7 day Large Item Exception hold on a check you deposit to your Checking Account, the amount held is not available for you to spend (and not displayed in your Available Balance) until the 7 day hold expires.
Deposit Holds. All ACH Debits made electronically will be held for five (5) Business Days from the effective date for those funds, which is the day that we credit your Account for that deposit.
Deposit Holds may remove that property from the account. If the dispute, claim U.S. Bancorp Investments reserves the right to place a hold on or concern remains unresolved, you agree that U.S. Bancorp trading or disbursing your deposited funds for a time determined Investments may at our option deposit the property in your account at our discretion. Hold times will vary depending on the type of with a court and ask the court to determine to whom the property deposit (i.e., Check, Wire, ACH). belongs. If we deposit your property with a court or otherwise 1 Customer Agreement (Continued from page 5.)