It holds the payment upto 5 days. then money is out of my bank acount but not showing in the on line account.
Also they keep the merchant credit for a very long time.
Since they are the bank I am sure they have good reasons for it. and
not a good game for customers.
First be aware of the extended times you must wait until you can withdraw funds. We had the experience that several weeks after our deposit, they would not honor a withdrawal until a lot of investigation into the validity of the deposit. After closing the account, there was interest left. They sent us a check for this amount. However they refused to honor the check because the account was closed. Never have been able to resolve this in spite of hours on the phone. We of course had bounced check charges from our bank also.
If they ask you to fax them a document when you call back they never can find it.
I asked once on this issue, "How long until you get back to me?" Answer, "10 business days." Of course that was a long time ago.
I open a money market account with bank earlier this week. After the account was opened i found their customer service is by far the worst i have run into in fifty years of doing business at least twenty bank i have had account with. As soon as i can find another bank, i will be moving my account.