Last Tuesday, May 20, after work I went to Wells Fargo and deposited a $12,000 check that I received from my brokerage firm Scottstrade. They are a big brokerage firm and they air many commercials every day. Anyway, the teller told me that there would be an 11 business day hold on the check. On May 29th, $4,900 will become available but the rest will not be available until June 6th.
I told the teller that this check is from Scottstrade, a major company and not a personal check and that I need the money to buy a new car because I had a wreck where my car was totaled. She promised she would check into it the following morning and if she could verify the check, there would be no 11 business day hold on the check. I never heard back from her so the next day after work, I asked to see the manager but she would not budge.
Does it really take 11 business days to clear a check? I've been having to drive a friend's car because I don't have enough money to buy a new car until the check clears.
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