Tuesday, February 23, 2010

How long should it take for a Bank to clear a deposited Income tax check?

Ok, I just received my income tax check. I brought it to MY bank (PNC) and they told me it would take 5 DAYS TO CLEAR!!. ($1,920) Now, I may be wrong, but don't checks like these get cleared as soon as the number is dialed on the check to verify legitimacy? Walmart did it on the spot for me last year...





What should I do ,considering I need the money right now to pay rent?How long should it take for a Bank to clear a deposited Income tax check?
They are not ';cleared'; per se, but most banks would not place a hold if funds are verified and the check is authorized. Depending on where the check is drawn, it could be 2-10 days for it to clear that bank.How long should it take for a Bank to clear a deposited Income tax check?
I would guess that this is not a goverment check, as they clear in most cases 24hrs or so. If this is a cashiers check, like from a tax place, then it could take 5 days. If you have an account, why did you not use direct deposit? If you needed the money now as stated, maybe you should have went to wal mart. For what its worth, I took a cashiers check from something other than a tax return to my bank, which is chase, it would not allow me the money that day, but the next day it was there for my use.

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