Why 16 business days for an international check to clear?

A relative deposited an American insurance company check into a Canadian bank account. He was informed that it will take 16 business days for this check to clear. Can someone explain why all this time is required especially since banking operations are now computerized and supposedly speedier?Why 16 business days for an international check to clear?
This is just another way that banks use to make money. Even an income tax refund cheque will take many days for the funds to clear. It could well be that the bank actually gets the funds sooner but does not let the customer have use of these funds immediately.The bank then has the use of your money, interest free for a number of days while it has probably lent the money to somebody else charging them interest from day one. Most banks do have a service that will clear funds quickly - at a price which is quite exorbitant!





One way to access your money quickly is by depositing cheques into your credit card account. This will reduce the balance owing immediately and save the interest that would have applied. You will then be able to use the funds deposited into the credit card account immediately for purchases by credit card.