If I wrote out a check and it was deposited on Friday (and the business days for the my bank does not include Saturday and Sunday) when would it clear?
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If I wrote out a check and it was deposited on Friday (and the business days for the my bank does not include Saturday and Sunday) when would it clear?
Assuming this is a U.S bank and you are not paying for any special check features, it would clear by Wednesday. U.S banks usually take 3 days to clear a check. I believe if the check is a large amount, meaning 6 figures, it may take longer but I am not sure of this.Quote:
Originally Posted by petersone [Dear Guest/Member you have to reply to see the link.click here to register]
Today is MLK Day. Might be a bank holiday. I don't know. The check could clear on Thursday.
It depends on the location of both your bank and the depositor's bank. If, for example, you both bank with Bank of America, it would clear the same night.