Does anyone know how long it takes for an Echeque to clear once as come from your bank account ?
2006-08-29 03:56:38 · 4 answers · asked by lizardlover 2 in Business & Finance ➔ Personal Finance
The money went from my account on the 17th of this month and is now waiting to be cleared in an paypal transaction both mine and the recipients details say uncleared. I am in England and the recipient is in America.
2006-08-29 04:30:07 · update #1
I have received echeque payments via paypal, and paypal state 4 working days, but in reality it normally takes 14 days. Paypal must gather some amount on interest on yours and my money by banking this money into their account and holding onto it for this length of time.
2006-08-30 05:21:08 · answer #1 · answered by Anonymous · 0⤊ 0⤋
All checks are electronically verified immediately.
The actual paper may not reach a bank for several days, but, the amount of the check is placed on hold for that account and is "unavailable" for any future payment.
If a check is written to someone who does not use electronic verification, and the "pending" check amount has created a very low balance, the said check may bounce.
2006-08-29 04:09:20 · answer #2 · answered by ed 7 · 0⤊ 0⤋
A couple of hours to a couple of days. You can't rely on any float.
See the link below (Federal Reserve Board site) for details on Check21
2006-08-29 03:58:26 · answer #3 · answered by Anonymous · 0⤊ 0⤋
four working days
2006-08-30 23:54:24 · answer #4 · answered by Anonymous · 0⤊ 0⤋