FTP Payment Quetion

[PugLover]

Hey Ya'll..

I mailed my final payment for the FTP via a personal check. Acutally, I sent it UPS overnight and I know Disney received it as I called to verify the payment was received on time and posted to our reservation.

Almost a week later the check still has not been presented to my credit union for payment. Can anybody shed some light on how long it took Disney to post/present the payment? I am nervous something went wrong! Normally when I pay bills via our checking account the payment posts in just one to three days, in this case it has been well over a week.

Thanks!

 

[dznyntnh]

There are alot of factors that determine how long it takes for a check to clear your checking account.

Most have to do with how far away your are from where the check is coming back from, it can take 7-10 business days (or longer) for checks to clear and even longer for a bank to be notified of insufficient funds or other problems.

There are some businesses that do not deposit checks everyday, even after they have credited your account with payment. And some use lockboxes that are processed daily or every other day.

As long as you know Disney has received your payment, you are ok with them, give it a few more days for the check to clear your account.

Sorry if this got wordy, I've been in banking almost 20 years and I have to explain this to someone everyday .

 

[PugLover]

Thanks for the info!

Normally I wouldnt even give it a second thought but this was a fairly large check so it caused a bit of concern.

I just went through some past statements from our credit union and it seems checks paid by phone or the Internet posted in 1 - 3 days... checks that were actually mailed seem to take longer but not a week. The only check I actually write each month is to our management company and that is only 1 mile away, perhaps the FLA to NY transactions just take a bit longer.

Disney received our payment on the day it was due so I just wanted to make sure there were no gliches and they didnt cancel our FTP reservation, that would be just my luck!

Thanks again

 

[honeymo78]

Larger checks and non local checks do not have the same expedited processing rules as other checks do. A NY check is definitely not local for FL and will require a longer processing. I won't go into the actual process b/c it is long and boring and only interesting if you work in banking or are a lawyer. But I would give it at least 10 business days before you start to worry.

 

[safetymom]

PugLover, if I were you I would call. You are concerned and one phone call could tell you that the check has been received and processed but not presented to the bank yet. The quicker you find out the sooner you can correct any potential problems if it wasn't posted to your acct.