Saturday, February 27, 2010

How long does it take for a cleared check to be verified as valid, if deposited in the same bank as check?

I have a chase checking acct and just deposited a check from someone over 10k. How long will it take for it to clear and be verified as authentic?





I do not want to go ahead and take the money out, use it, and perhaps find out the account had no fundsHow long does it take for a cleared check to be verified as valid, if deposited in the same bank as check?
I'm not sure if it's only a New York thing, but I think there was a law or something called Check 21 that just got passed. With that law, ANY check can and will get cleared within 2 days or something.





Good luck.How long does it take for a cleared check to be verified as valid, if deposited in the same bank as check?
If the check you deposited is from another account at the same bank (Chase), you should be able to access the fund without having to wait because the bank can verify the funds are available. Unfortunately, some banks still put holds on these type of checks, just like they do with checks from other banks. The best thing to do is to contact Chase to check their policy.





Hope this helps. Good luck!
if u deposit a commerce check into a commerce account it will become available right away, dont worry you can trust me i am a banker
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