why do banks take so long to clear deposited checks, but count debits against your account right away?

Answer 1

Banks usually have to check the account the check is coming from before they can cash it. When you use a debit card, you are only communicating with your bank, and they already know what you have access to.

Answer 2

I once deposited a check that my roommate gave me for his half of the rent and the money hit my account a few days later. Three WEEKS later the check bounced, the money was pulled out of my account, I was charged a fee for HIS bad check, as well as several resulting NSF fees from other stuff. When I asked the bank representative how long I had to wait to make sure a check wouldn't bounce, my roommate was rather unreliable and I figured there was a decent chance this might happen again, I was told there is NO time limit. The other bank at any time in the future can come back and say "Whoops, that check was bad" and take the money back

Answer 3

They are more likely to make money using this method. If you bounce a check, you will have to pay them a fee, and they get richer.

Answer 4

Because banks are businesses - their primary concern is to make money for themselves. They don't care about crediting your money to you as much.