Friday, February 26, 2010

How long does a out of state check take to clear?

I got paid with a check from Arizona for some cleaning I did.I deposited the check on Monday the 29th and it has not cleared.How long will it take.How long does a out of state check take to clear?
Federal Reserve Regulation CC covers how long a bank can put a hold on deposits that you make to your account. It depends upon whether the check is drawn on a local bank, how large it is, and what your banking record is with regard to bad checks. Here's a link that will explain it to you: http://www.federalreserve.gov/Pubs/regcc鈥?/a>





Your bank is free to place holds on funds for LESS time than the law allows but NOT for more time than is allowed.How long does a out of state check take to clear?
if you ever do this again, be sure and take a copy of that check for your records. You can always call that bank to see if it would clear. I use to have to do this when my employer woud write bad checks. Different circumstances i know. i would cash my check when i would make the deposits. so i knew i would get my $. Needless to say the co. bankrupted. It shouldn't take over 3 business days to clear, unless the funds are not there. Then they will run it again.
That depends on how long your bank put a hold on the funds. These days a check will clear processing the next day if it is good.
The simplest and fastest way to know exactly where you stand is to just call your bank. They will tell you instantly when you can use those funds.

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