Monday, February 22, 2010

Waiting for a check to clear on a payment?

I had a customer purchase something from me recently and paid with a check. I know that there is a 10 day waiting period for the check to clear. Note that this is from an online sale, so I won't be shipping anything until after it's cleared, but I've never gotten a check as payment so my question is;





How do I know it's cleared, do I need to call the bank or will they let me know if it hasn't after I cash itWaiting for a check to clear on a payment?
You should be able to check the status online with your bank's website (where you have the account).





If you suspect that the check might not clear, you'll get an intimation from the bank itself, if and when that happens.





Just a tip -- Avoid collecting checks from buyers online. It's a real hassle explaining to my bank when it bounces.





Even a simple money order can get you cash in hand faster.

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