Does a personal check take 2 weeks to clear?

if i recieve a personal check in the mail and take it to the bank to cash it, am i right in thinking it'll take 2 weeks to cash? for around 拢60?





thanks!!!Does a personal check take 2 weeks to clear?
No. Federal laws were put in place several years ago to expedite the check processing time period. If the check is drawn on a bank in the same state it should be held no longer than 2 to 3 days and if it is an out of state bank then the hold should be no longer than 5 business days. Now some banks will say they can hold it longer but they have to go through certain steps. The bank can call your bank to verify the check has cashed or the funds are good at this time.


Oops, I didn't see the part about a check in foreign currency. This changes everything. A hold can be anywhere from 2 weeks to a month. Usually these items are sent for ';collection'; from the issuing bank and unfortunately some foreign banks take longer than others to process these items.Does a personal check take 2 weeks to clear?
In the USA, anyway, banks and billing services for companies have instituted electronic check validation systems. Instead of having to physically send the check to a bank for validation, they now send electronic images back and forth. So, they can tell usually the same day whether the funds exist for a check that was written. If so, they can clear the check in as little as one day.





Also, if the check was written on an account with insufficient funds, the receiver of the check will usually hold onto the check until the next day and try again (in case a deposit into an account the check was written on hasn't been posted yet). But, if the banks are using this electronic validation system, it shouldn't take more than 2 business days for a check to clear. Otherwise, you're looking at 5 to 10 business days (one to two weeks).
Is there a local branch for the bank the check is from? If so, you could get the cash in hand as they can tell if the check is good.





Otherwise you are at the mercy of the bank system.
If you have an account at the bank and there is enough in your account, they will usually cash the check but they will freeze an equal amount in your account until the check clears.
it should only take 5 - 7 days ........on average