if there is eg: a 5 day hold then the bank will hold it for the full 5 days, some banks will hold for anywhere from 3 to 5 business days no matter how much money is in the account already, especially if the cheque has been deposited by machine.
If you recently deposited a personal check into your account, the bank will let you use $100 immediately by law. Until the rest of it clears however, it may show up on your bank statement as a "memo debit" until the check clears. For example, you deposit a check for $800. $100 is made available to you right away, but $700 will appear as a memo debit. Once the check clears 3-11 days later, that amount will disappear from your Pending debits and you will have access to the full amount of the check.
It generally takes 2-3 days from the time the check is deposited until the time it clears. This can vary from bank to bank.
No. Because the check may "bounce", you have to wait until the bank clears the cheque and get the promised funds into your account. A cheque is a "promise" to pay, not a payment of actual money. In some countries (but not all) it is illegal to write a false check promise.
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I believe it means that you do not have access to the deposited funds until the bank "clears" it. Basically, even though you deposited x amount of money, you can't spend it until the bank decides to put it into your account. My bank account tells me "total amount delayed, available ##/##" and then gives a time when it'll be cleared. Hope I helped!
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