Friday, February 26, 2010

Does writing a check at a store use the same system to clear it as when you do a check over the phone?

Sent a check to one of my creditors and it didn't clear. But I didn't know it didn't clear and tried to write a check at a store over a week later. That wouldn't go through and they told me I had a check that didn't clear. A week later I did a check over the phone and clear with no problem. So are the same systems to clear a check at a store the same as when you do one over the phone.Does writing a check at a store use the same system to clear it as when you do a check over the phone?
Yes, with modern technology checks are usually processed immediately. Stores rarely send the physical checks to the bank and wait for payment, they almost always process the electronic withdraw on the spot. That way they can deny your purchase if it doesn't clear, rather than trying to chase you down later.Does writing a check at a store use the same system to clear it as when you do a check over the phone?
In many cases, yes they are the same.

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