Trust me.. i wish i didnt have to ask this question. But unfortunately this has been a rough month finance wise.
I sent my landlord a check.. and he usually doesnt cash it on a certain day.. just whenever he feels like it.
It did not come out of my account today yet.. is it safe to say it wont until tomorrow? or can that payment come out any time through out the day? ( I didnt know if they only process checks in the morning along with all other transactions or if it can be taken out anytime)
Thanks! Im just hungry and get paid (direct deposit) tomorrow morning. aka- if i could use that money today to get lunch.. without the fear of going under.. id be a happy camper. But i have a feeling thats not the case.
2007-12-06 02:16:56 · 6 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
No, it's not safe to assume that. With the electronic networks the banks have now, withdrawals can be posted at any time of day or night.
2007-12-06 02:22:52 · answer #1 · answered by PhotoJim 4 · 0⤊ 0⤋
Not really. If the check is run normally, then yes. It runs in 12 hour cycles. If it did not post last night it will be presented to day and withdrawn overnight. However if the company or individual bring the check in by hand to your bank then it could be posted immediately since it is converted to cash. The hold for the funds would be placed when the check is presented. Also if the company now uses electronic checks it could post to your account and place a hold for those funds today if they run it today.
2007-12-06 02:27:21 · answer #2 · answered by ncsu93 2 · 0⤊ 0⤋
No, checks can clear at any given time.
Don't spend the money until tomorrow after your direct deposit has been done. Also, be careful with your direct deposit, because it also has to clear and if your bank or employer's bank jerks it back for whatever reason, you can end up with a negative balance.
2007-12-06 03:07:13 · answer #3 · answered by terribrooke 5 · 0⤊ 0⤋
My bank processes checks starting a 2 PM daily
2007-12-06 02:25:04 · answer #4 · answered by Jan Luv 7 · 0⤊ 0⤋
most banks have till 2 pm anything after that is the next day
2007-12-06 02:57:20 · answer #5 · answered by Mick 7 · 0⤊ 0⤋
no and never assume that -- once a check is written consider the money spend!!!
2007-12-10 00:23:08 · answer #6 · answered by Anonymous · 0⤊ 0⤋