have to clear from the other bank first then show up on your account? If so, how long does it take to clear? thanks
2007-02-13 01:43:38 · 10 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
It should show as a deposit to your account immediately, or by the following day if your bank has a "deposit by" deadline for next day's business. But be warned that if the deposit you made was hot on the check writer's end, it will be taken back... and you will be responsible for any fees that may incur.
2007-02-13 03:18:46 · answer #1 · answered by Sweet Melissa 4 · 0⤊ 0⤋
Depends on your bank. I know that last week I deposited a check in my boyfriend's account and they didn't tell me that they weren't going to make those funds available to him until the next business day and so several transactions he made were charged with a non-sufficient funds fee cause they didn't deposit the funds immediately. BUT my credit union that I bank at always deposits everything immediately. Usually checks take about 2-3 days to clear. It has to go through usually two banks before the transaction is fully processed.
Hope this answers your question and I didn't ramble too much.
2007-02-13 01:57:06 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If you're asking how long does it take the depositing bank to collect the funds (assuming it's a domestic bank draft) . . . about a day. If you're asking how long will it take the bank to credit your account, that's a policy issue with the bank and often has little to do with when they actually collect the funds. If you have a good realtionship with the bank, they will generally credit your account the same day as the deposit. This could be SOP for some classes of accounts -- or you may need to talk to a bank officer to get your account "flagged" for this status.
2007-02-13 03:22:15 · answer #3 · answered by SDD 7 · 0⤊ 0⤋
It depends on the bank or credit union. I have a credit union and I have never had any check not "clear" the same instant I put it in the bank. Even an out of state check. The money was just there. I would give them my financial aid check and it was well over $1,000 and it would just be right in my account that instant. I will never go back to a regular bank again for this reason. Always putting holds on checks. Get a Credit Union!
2007-02-13 02:50:33 · answer #4 · answered by ♥ Mary ♥ 4 · 0⤊ 0⤋
If the check (that your depositing) is from the same state as your bank, then it should take no longer than 1 business day, but if its from another state, it could take longer, depends on the bank. Also, if the check is so much money, then it'll take a few days for it to clear. I had to deposit a $7500(for tuition & books) check and it didn't clear for 4 days (i've got capital one) and the reason they made it clear is because I told them it was for my tuition and the deadline is close. But, talk to your bank and they can give you way more information.
2007-02-13 01:55:04 · answer #5 · answered by Anonymous · 0⤊ 0⤋
There are some banks (Washington Mutual is one of them) which will make a deposit - even a large one - available immediately (in their terminology, "No Hold") if you have been a long time customer with no negative banking experiences with them. The definitions of "long time" and "negative" are up to the bank: several years seems to qualify as a long time, and bounced checks are the most familiar negative. In my experience, the teller can inform you when you make the deposit whether there will be a hold on the funds.
2007-02-13 02:46:03 · answer #6 · answered by jerrold 3 · 0⤊ 0⤋
Depends on your bank.....at my bank.....Bank of America...if I deposit today, prior to 2:00pm it will show up tomorrow.
I have had a "hold" put on my account when I deposited a check from my college (refund) until the check cleared. It was a 10 day hold. They do that to protect themselves as well as you.
2007-02-13 01:49:07 · answer #7 · answered by to_sassy4_u 5 · 0⤊ 0⤋
Usually two to three business days. You can avoid this by cashing the check with a teller first, then depositing the cash into your account. The cash will show up immediately.
2007-02-13 01:47:59 · answer #8 · answered by mouglie721 1 · 0⤊ 0⤋
it will show up in your balance but will not show up in your "available balance" until it clears the other bank. if you have enough money in your bank to cover the check in the event it is returned, it may become available automatically. but i do not think you can withdraw the full balance until it clears the other bank. my bank will automatically clear the first $100 but the remainder will not be available until the check clears it's bank.
2007-02-13 01:53:32 · answer #9 · answered by saveit 4 · 0⤊ 0⤋
If you have money in your account enough to cover the check then it will be temporarily credited. You will have to pay if it does not clear.
2007-02-13 01:56:29 · answer #10 · answered by lyyman 5 · 0⤊ 0⤋