Thursday, February 18, 2010

About how long does it take for a check to clear?

i don't write many check because i prefer to use my debit card. i've been waiting three days now and it still hasn't posted. should i contact my bank?About how long does it take for a check to clear?
It does usually take 3-5 days. It depends who you wrote the check to - smaller stores may make a deposit every day because they depend on any cash that comes in. Larger stores that get credit and debit purchases and not so many check purchases might wait until the end of the week or until they get more checks for a run to the bank.About how long does it take for a check to clear?
The lenght of time it takes to clear the bank depends on the business / person you gave the check to and how quickly they put it in their account. If they use the same bank you do, the check clears faster. If they take the money through a check guaruntee service it also comes out of your account faster.





If it has been three days, I suspect you will see it anytime now. If you contact your bank, they will probably tell you to wait 10 days.
Due to legislation done not long ago, it takes a matter of hours for a check to clear. Banks used to have to send the actual check to one another before they would actually post it against the accounts which would take several days. Now they only need to send a authentic copy electronically and therefore the time is virually none at all. Most banks may wait to post it against your account on the next business day, but the funds will already be designated as being used and therefore can't be withdrawn.





Now if the check hasn't posted on your account yet, chances are that company doesn't due their deposits in a timely manner. I wouldn't worry about it, just make sure that your check book is balanced with that check and move on. It will clear when they finally get around to actually depositing it.
It depends on when the person you wrote the check to deposits or cashes it, after it is deposited or cashed, it can take up to 5 days to post.
like the first person says 3-5 days but remember these are business days so give it a good week. Also, it depends on where you used your card at, a local merchant might take longer to register..... (if they still use the old form of receipts, and then actually have to deposit them, it could be longer still)
If processed electronically it will clear instantly. If it's processed manually it will take 3 - 5 days for a local check to clear depending upon how quickly the recipient deposited it to their account.
I've had checks clear in anywhere from 2 hours to 5 months.





If they don't cash it within 6 months of the date written it becomes stale and they can't cash it.

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