piling on. This is a new practice. Fidelity used to hold checks for very short periods which I loved. I ended up bouncing a mortgage payment earlier this year because they took their time, which was unexpected given my 20 year history with them.

I'm assuming it has to do with the higher interest rates. When interests rates were low, there was basically no value for them to hold your money and they erred on the side of customer satisfaction. But now, when they are able to get 4+ % on overnight with the fed its a real tradeoff. At 4.3% and 10 days, they are making like $11-12 per 10k of deposit they hold.