Monday, February 22, 2010

Do I have enough time for a check to clear?

my rent is due tomorrow which is a thursday. I get paid the following WED. Which is 4 business days away. Will my money be in the bank the time the check is processed?Do I have enough time for a check to clear?
Actually, if your rent is due, you have a ';grace period'; by law (at least in Ohio) which is 4 days without being charged for any late fees.Do I have enough time for a check to clear?
chances are.........NO!! *NOT a smart chance to take
With the new ACH system in place, basically you had better have the money in the bank when you write your check.





There was a time when there was time to 'float' a check, but with the automated systems of today I would not count on it.
probably not. and depends on how fast the landlord cashs the check..if he cashes it the same day you pay him/her then the money will be taken out either that same day or the next.


next time make sure you have enough money to pay your rent
Not likely. Don't write the check unless the cash is available in the account.

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