Monday, February 22, 2010

How long does it usually take for a check to safely clear after it's deposited?

I deposited a personal check (made out to *me*) into my checking account on Friday morning. My bank put a 3-day hold on the check, which dropped off this evening (according to the banking by phone system); does this mean that the check has *definitely* already cleared? Or, might it still bounce? How long do I need to wait to be absolutely *certain* that a check is good before I access the funds? Thanks in advance!





Again, the funds are already available to me (the bank hold expired tonight)... BUT, if the check were to bounce, how long would it take for my bank to know that it has bounced?How long does it usually take for a check to safely clear after it's deposited?
It all depends on the routing number. If the check is local no more than 3 days if not no more than a week, unless it's more than $5000, in which case the bank can place an extended hold on the funds for an additional 7 days. If a check ever does bounce the person who issued it is responsible for all fees incurred. Hope that helps.How long does it usually take for a check to safely clear after it's deposited?
Isn't there any exception? Sometimes the check clears fast within 1 or 2 days eventhough then check is more than 10k and it belongs to out of state US navy's credit unionbank.

Report Abuse



Generally safe after 3 to 4 weeks, but actual clearance time is 5 years, statue of limitations. The only way to know if a check is bad is when it is returned by the bank. Don't take checks.

No comments:

Post a Comment