Saturday, February 27, 2010

If I deposited a check at noon on Friday will it clear by Monday?

My roommates and I are paying our 4 month rent bill and They gave me checks on Friday for $1800 each. My landlord is kind of strange and will only take cashier's checks. Anyways do you think they will clear by Monday afternoon so I can pay him?





p.s. I have Chase Bank.If I deposited a check at noon on Friday will it clear by Monday?
i work for chase. it all depends on where the check were written from. if it is local you have a good chance of the funds being collected. if there is a hold the bank can release the funds if they are collected.If I deposited a check at noon on Friday will it clear by Monday?
If the checks were written on the same Chase bank, yes, they could probably clear by Monday afternoon. On other local banks, more likely Tuesday. Out-of-town banks, it could nine business days - i.e. two weeks. Why didn't you ask the bank when you would be able to use the money to get a bank draft/cashier's check when you deposited the money?
Ask the bank. The reason the landlord wants cashier's checks is obvious; he/she is tired of tenants' bounced checks.
The check you deposited probably cleared the same day.
You need to check with your bank on their guidelines. Every bank has their own rules/regulations regarding when money is available in addition to the federal guidelines. There are many variables, such as out of state checks, third party checks, check written from the same bank, etc.

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