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Party-pooper answer: check fraud is rampant and they need the 7 days to make sure it's a legit check from the source, otherwise they put the check in, you pull the cash out, and they have to eat the loss. This is the same reason Craigslist tells you in all kinds of different fonts and colors never to accept personal checks or money orders from buyers, only cash.
Slightly more helpful answer: my dad's business relies on speed and the immediacy of the money he deposits. He closed his account at his bank over a dispute just like yours--the bank employees knew him personally and trusted him, but then a new manager came in and decided to be a stickler for the rules--and went from small bank to small bank offering them his considerable business, but only if they would put in writing that his deposits would never be delayed.
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