Can My Bank Wait to Give Me Access to the Money I Deposit?
The bank is allowed to place a "hold" on checks you deposit.
An overdraft happens when you withdraw more money from your checking account than you actually have in the account.
Typically, your bank or credit union will cover the amount overdrawn. This amount becomes a loan to you. The bank or credit union will charge you a flat fee for the overdraft service.
Your bank or credit union may offer either a line of credit or offer to draw from your savings account in order to cover an amount overdrawn on your checking account.
This article is published on KansasMoney.gov. Find more information by contacting these state agencies: