How Long Does A Check Take To Get Back To My Bank?

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How Long Does A Check Take To Get Back To My Bank?

3 Answers

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Answer 1

I work at a bank... When you write a check, it will first need to be deposited by the merchant to their bank. That bank then sends it physically to your bank to be presented for payment. If the merchant is large, they would deposit items everyday and so the turnaround time is 3 business days. If the merchant is small, they may do their bookkeeping at a much slower pace and they have up to 6 months to deposit your check.
Many merchants, such as Wal-mart will electronically process your check and that would withdraw your funds in 1 to 2 business days.
We always tell our customers to not depend on the processing time and to have funds in the bank when they write a check.
Post dating a check does not hold... It is only a request to the merchant to hold your check, Banks will cash checks with dates in the future.

Answer 2

If you pay someone with cross cheque then the cheque will be deposited on the person's name in his bank. That person's bank will then send the request to your bank about the money and if you bank clears the request then the funds will be transferred to that person's account. It doesn't take more than a day to get your cheque back to your bank (depends upon the operations of the bank).

Answer 3

In this age of electronic banking, it can take anywhere from a few seconds to a few days. You will notice when you use a debit card, the funds are reserved almost immediately. This is the electronic equivalent of writing a check. At some retailers, you write a check, give it to the cashier, it is run through the register and cancelled immediately.