Monday, February 22, 2010

How long does it take for a check to clear?

It depends on where it's going to. Most of the major banks have overnight clearing with each other. If you bank with a small bank or credit union, it may take 1 or 2 days. However, banks are switching to processing checks as electronic items, so they clear faster. Basically, you don't have a lot of float time anymore.

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