I deposited a check for {$550.00} on XXXX/XXXX/2016 into my checking account. On XXXX/XXXX/2016 the check cleared the Insurance Company 's bank and was paid. On XXXX/XXXX/2016 funds were still being held. I called & was told the hold was XXXX/XXXX/2016 because " there was a problem with the check ''. They could n't tell me what the problem was. I had a copy of the check, no problems. I was told to call the Insurance Company, that my bank had not called & I was sent a letter to call the Insurance company and to allow 10 days for the letter to be received. No joke! They actually said that! 
I called the insurance company, they confirmed check was paid out on XXXX/XXXX/2016. I called wells fargo again after receiving confirmation the check was cleared, cashed and funds sent, to be told that wells fargo was waiting for confirmation from the Insurance Company 's bank that they would " confirm that they were not going to pull the funds back ''. Are you serious?? This policy of a 10 day hold on money that they have already received and are holding is just stupid! One phone call to them for verification of this supposed pull back release would have made wells fargo " a personal bank ''. Tell me why. I do n't believe the XXXX people I spoke with at the bank. After getting to the XXXX superviser I was told the check did n't clear, the paper check, but that they had the funds on hold. I do n't know ANY bank that would send funds without clearing a check. I do n't believe banks send money out of the goodness of their hearts! They want guarantee 10 days later that the funds are good? That does n't make sense! The bank said I could file a claim, that would take 5 days. LOL Wells Fargo is holding funds 10 days on paper checks. There is nothing that can be done! They have the money, can use the money for 10 days before they release to account holders. I was told Direct Deposits are never held. Is that because they are a Federal Transfer? If Wells Fargo needs a " pull back release '' on all paper checks, why is n't this information given to account holders to deposit along with the checks?? Like an indemnity policy, that the check is good. lol Or a Federal Stamp of some kind from the issue bank? Is n't that FDIC guarantee for a check? 

I believe Wells Fargo should be investigated for unfair business policy in regards to 3rd party paper checks. That this " Pull Back Release '' needs to be investigated. I do n't believe it 's real. Wells Fargo should be slapped with a Federal fine for withholding accountholders funds without reason on funds received and already in their possession. 
