Thursday, February 18, 2010

How long does it take for an out of state check to clear? I am from Florida and sent in to MA?

It was deposited yesterday morning.How long does it take for an out of state check to clear? I am from Florida and sent in to MA?
If it is under $5000, there is a limit of 4 or 5 banking days. Over $5K and it's 10 banking days.How long does it take for an out of state check to clear? I am from Florida and sent in to MA?
most bank level transactions are electronic, but there is always a bit of a human factor to input the item. Part oof it might be the policies of the bank, as they tend to gain interest only when the money is in their hands. The longer it takes them to release your money, the more money they make, even if it is only a penny or two a day on each transaction, that all adds up.


Call your bank and see if the check has cleared yet, and while you are talking to them, ask them how long it usually takes for such things to happen.
It completely depends on your bank and the type of check (personal, government, etc.). Could be a couple of days to a week or longer for them to verify the funds.

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