I would like your opinion..
If I am expecting money in my bank acct tomarrow morning and I write a check today at a local store (even though the money isnt there yet to cover it), Would it be safe to write the check today and how long do you think it will take to clear through my bank??
2007-11-29 03:30:38 · 6 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
the money being deposited tomarrow is directly deposited and it should already be there, just not available for me to spend until tomarrow.
2007-11-29 03:41:49 · update #1
No, with the new laws grocery stores can take your check, run it through their scanner, and withdraw the funds immediately. So unless you store doesn't do that you should be ok.
2007-11-29 03:58:28 · answer #1 · answered by brendan 4 · 1⤊ 0⤋
Now days with electronic checking, checks can go through immediately. I actually wrote a check from one bank and it got to another bank that very day (2 different banks). Also, the money you are expecting, is it direct deposit or what? If you are being paid by direct deposit it should be on the banks books at the open of business. Remember, banks can make mistakes, I've had it happen. I tend to lean to the side of 'better safe than sorry', I'd make sure the money was there first. If you do write a check today and it gets to the bank before your money does keep in mind you will have a bounced check fee from not only your bank, but the person you wrote the check to, this can really add up and then you're in the hole.
Good luck.
2007-11-29 03:39:54 · answer #2 · answered by Josh 2 · 0⤊ 0⤋
Clear the bank?
Electronically, a hold for the funds will take 3-5 minutes or less..
If no funds, no cash.
That may negate you ever cashing a check in that store again.
2007-11-29 03:35:26 · answer #3 · answered by ed 7 · 1⤊ 0⤋
I wouldnt risk it... a check is like a debit card.. if the money isn't in your account and can't be taken out right then then the check won't clear. Plus if it does clear then you might be charged for overdrawing. Just wait to go to the store until tomorrow.
2007-11-29 03:58:40 · answer #4 · answered by Irish_Girl860509 3 · 0⤊ 0⤋
As long as the store does not electronically take the money out of the back you should be fine. Espicially if you wait to goto the store until the time that the bank closes.
2007-11-29 03:35:08 · answer #5 · answered by Mel 3 · 1⤊ 1⤋
My opinion is that with the electronic banking functions that are in place today, floating a check (that is what it is called)
is very risky, your check probably will be returned, and you will be charged for bouncing the check.
2007-11-29 03:37:03 · answer #6 · answered by groundhog 3 · 1⤊ 0⤋