This is typically a code used by Chase Bank (possibly others) indicating that they are pending a credit to your account. The credit amount associated with the “HOLD REL MEM CR” status is usually associated with recent a large deposit. The financial institution needs more time to communicate with the paying bank to collect the funds and deposit into your account.
They also usually allow a (small) portion of the funds to be immediately available.
If you use Chase Bank and want more details, call their Deposit Hold Team at 1-877-691-808 (Press Option 1).
HOLD REL MEM CR – What does it mean?
It’s a temporary delay on your deposited funds that stands for “hold relinquished member credit”. It has also been referred to as “hold released member credit”.
The prior status to this may be “HOLD Memo Debit” or simply “Hold”.
Can I use to My Funds?
It depends, you can only access what is stated in your “available balance”. If the amount you want to use is within that amount, then yes.