How long for checks to clear?

[LuckyTaxi]

I swear, I can never get a straight answer from the tellers. One time I deposited a $35k check into my business account. It took 2 days to clear and it was a local bank. Well, they cleared $7k the following day but the rest was placed in my account another day later. A week ago I deposited a $9k check that cleared the following day.

Well, today I deposited a $1k check and the girl told me it would take 2 days. It's from Ohio, but dang, can they be consistent?! Does anyone here work for a bank. what's the rule of thumb on a check? I was hoping to go on a shopping spree this weekend.

 

[HonkeyDonk]

Originally posted by: lilcam
I swear, I can never get a straight answer from the tellers. One time I deposited a $35k check into my business account. It took 2 days to clear and it was a local bank. Well, they cleared $7k the following day but the rest was placed in my account another day later. A week ago I deposited a $9k check that cleared the following day.

Well, today I deposited a $1k check and the girl told me it would take 2 days. It's from Ohio, but dang, can they be consistent?! Does anyone here work for a bank. what's the rule of thumb on a check? I was hoping to go on a shopping spree this weekend.

it all depends.

The last check I deposisted cleared the same day and I'm in Tx while the check was from NJ.

 

[mzkhadir]

If its check21, it takes less time. If its not check21 its longer.

 

[LuckyTaxi]

Originally posted by: mzkhadir
If its check21, it takes less time. If its not check21 its longer.

how would i know?

 

[NikPreviousAcct]

You would know by calling your bank and asking or searching on their website.

 

[mzkhadir]

Originally posted by: lilcam

Originally posted by: mzkhadir
If its check21, it takes less time. If its not check21 its longer.

how would i know?

http://www.federalreserve.gov/paymentsystems/truncation/faqs.htm

Here is a faq. And Nik is right, your bank would tell you.

 

[ponyo]

You need to establish a relationship with your local bank branch. Get to know the manager and the people working in the branch. If your acct is in good standing and you regularly deposit those checks, they will never place any hold on your checks regardless of origin. They never place hold on my business checks no matter how large or where it's from because they know me and they also know I get these checks regularly. There are rules in place but rules can be bent or broken. But they're not going to do it for you if they don't trust you or have the need to.