Originally Posted by Squawks
Hey, Ska - happened to my woman, too. Her big bro gave her just $12k into Washington Mutual but WM will only deposit $2,500 on the 2nd day, then $5,000 more on the 3rd day, and the rest on the 4th day. Completely stupid - checking for terrorist funding? Psh. More like them making quick interest on that amount of cash!
My understanding is that they are making sure the funds clear properly and are actually transferred to them before releasing them to the client. Although I'm sure they are extra cautious given the chance to freeze some cash up.