“HOLD MEMO DR” is identical to “HOLD REL MEM CR”. Per our other article, HOLD REL MEM CR, it means there’s a large deposit pending credit to the account, which means it needs extra time to process the amount.
Typically, a portion of the large deposit should still be available for use though. But it may be good to call the bank directly.
If you use Chase Bank and want more details, call their Deposit Team at 877-691-808 (Press Option 1).