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).
But What does “HOLD REL MEM CR” mean?
It’s a temporary hold on your deposited funds that stands for “hold relinquished member credit”