2006-11-22 06:37:39 · 7 answers · asked by cobolensky 1 in Business & Finance ➔ Other - Business & Finance
5-10 days
This is for international cashiers checks though.
2006-11-22 06:39:22 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I've worked for one of the largest banks in U.S. for 4 years. Here's how we'd handle it.
If it's over 5,000 it always goes on hold, unless you have a great relationship with the bank and we know your items are always good.
The hold is usually anywhere from 2 to 7 business days, depending on the amount, the state it's from, and your account status. Please note however, that how long a check is held by the bank is no indication of when it clears. It can clear the same day if it's a major local bank, or it can take a good week to clear, that's why the bank will hold it up to 7 business days.
If you want to be safe and know for sure that the check is good, I'd give it almost two weeks. If the bank doesn't take it out of your account by then, then the check is good.
International checks take much longer, could be 4-6 weeks.
Because the checks don't clear right away, even if the bank gives you credit for it right away, you would not want to give anything in exchange for that check until you know for a fact that it's been paid. Honestly, for that amount you should request that they send you a wire transfer. It might cost them about 30 bucks to send it and it might cost you up to 20 bucks to receive it, but it's worth it and you'll have the money the same day in most cases.
Hope this helps, please e-mail me if you have additional questions.
2006-11-22 07:31:05 · answer #2 · answered by yishor 4 · 0⤊ 0⤋
Cashier's check is like cash. It shouldn't hold it for more than a business day. Most likely clear the same day. But again, there are all sorts of banks. You will never know until you ask.
2006-11-22 06:41:14 · answer #3 · answered by spot 5 · 0⤊ 0⤋
The bank may tell you it has "cleared" in a day or two, but if it turns out to be a fake, it may take weeks for them to find out and then hold you responsible. It's a common scam to send someone a cashiers check for an item they have listed for sale, plus some extra for their trouble. Then the scammer gets your item for free and is long gone by the time you figure it out. You're out the item PLUS many bank fees.
2006-11-22 06:48:48 · answer #4 · answered by mizerock 3 · 1⤊ 0⤋
16 minutes
2006-11-22 06:47:16 · answer #5 · answered by Anonymous · 0⤊ 0⤋
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2015-04-30 17:52:31 · answer #6 · answered by Patricia 2 · 0⤊ 0⤋
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2015-04-28 16:41:46 · answer #7 · answered by ? 2 · 0⤊ 0⤋