Monday, February 22, 2010

How long does it take for a check to clear?

Im purchasing a vehicle thursday. I am writing the dealer a check, my refund will be in the bank very next day ( friday ). He will only hold the suv until thursday. I just dont want my check to bounce or end up with a fee because because of an overdraft .....How long does it take for a check to clear?
Checks are sometimes processed electronically, which can draw funds immediately (like a debit card). However, most checks, if processed by an accounting department and your bank will clear in 2-3 business days. Some places take more or less time.





If you give them a check the night before and deposit the money ASAP in the morining you should be fine.





Just make sure the bank doesn't put a hold the availability of the funds until the refund check clears!





Best rule of thumb...don't write a check if you don't have money in the account to cover it.How long does it take for a check to clear?
It can take up to ten days. I wouldn't even try it, unless you call your own bank and ask. You'll have a fee attached to the amount if it bounces.
I think that you should see if you can make the cheque for friday, Also I believe (in canada) a cheque could take effect immediatly or one day to show the account withdrawn.
It will bounce. If they call the bank to verify funds which most places do when given a check, they will be told the funds are not available.
If you bank with a main high street bank send a CHAPS payment they get sent the same day and are there within 2 hrs. there is a 拢30 charge attahced (LTSB) But a cheque can take up to 5 working days.
you're good. the processing doesn't take more than 1 day. 2 days if you got it in at the end of the day.
Checks typically clear between 3-5 days. You should be fine!

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