How Long Does It Take for a Check to Clear?

Answer

Checks deposited from institutions that are located in the same state will take up to two business days to clear. Deposits made into an account that is located in a different state will be held longer, about three to six business days or more.
1 Additional Answer
Banks are slow to clear checks from new customers and checks that are over a certain amount, say $7,000, because of the risk of fraud. Banks conduct fraud checks on certain types of transactions and this takes time. Counterfeit checks are becoming much more sophisticated, making it difficult for banks to verify the authenticity of a check. Banks also scrutinize banking transactions more closely since 9/11. So how long do banks actually hold checks? That depends. Most checks clear within a day or two after deposit. Higher risk checks may take as long as 11 business days to clear. That's “business days,” not regular days. In banking parlance, a business day is a Monday-Friday day, not counting Saturday, Sunday and holidays. So 11 business days can be as long as 17 regular days. That's a long time to wait for a check to clear. Some banks will clear a higher risk check in 6-9 days. That might be something to consider when you are in the market for a new bank. Ask first so you are not unpleasantly surprised by a shortage of funds, or read the bank's disclosure statement regarding availability of funds if you are not sure. While most banks hand these out to new customers, few customers read them.
Q&A Related to "How Long Does It Take for a Check to Clear"
Different banks have different rules about how long it takes a check to clear depending on its source, whether its a payroll check, or an international check. So you should check
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A check is a form of payment that is issued from one entity to another. The check represents a monetary payment that will be transferred from the payer's account to the payee's account
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Lets say I owe you Rs. 10,000/- and give you a cheque drawn on my bank account (ICICI) Let us see the sequence of events. 1. I hand over the cheque worth Rs. 10,000/- drawn on ICICI
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The process is not synchronous. Here is how check clearing works, roughly speaking: Person A writes a check to Person B. Assume they have accounts are two different banks, Bank
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Explore this Topic
For a personal check to clear at Chase Bank, it can take anywhere from 5 to 7 business days. If the check doesn't clear, it can be taken out of your bank account ...
The length of time it will take for a deposited check to clear depends on several factors. It will depend on what type of check it is, such as a payroll check, ...
A personal check typically takes a day or two to clear for a bank. An individual can also call the local bank to determine if the check has officially cleared ...
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