Bank of America does stupid things like this. Any check over 500 or so is held for 10-14 days even though I have more than enough to cover in the many accounts I have there; where I have been a customer for 10 years at least. Policy policy policy I guess. Doesn’t bother me, but I can see where it will bother some people greatly.
It’s not a stupid policy for the bank- they make money holding checks. It is not necessary for them to hold checks that long to verify and it is a pain for customers. My bank clears funds as soon as they clear- it can be 1 day, or three days is about the longest time it takes now to clear a check. My bank says they can hold checks up to 10 days but really they release the funds to you as soon as the check is processed and they know the funds are there.