How long do banks take to clear checks these days?

[beattyfamily]

Your dh deposited in an atm, which probablly wasn't even processed until Tuesday due to the holiday, today, 1/22 is only the 5th business day. It seems like a really long time, but you have to take into consideration the weekend and holiday.

Yep, I know that now. We didn't expect them to hold the 2 checks for 5 business days though (since they are Fidelity out of Boston) or we would have gone in person to a teller to see if they could somehow speed things up but oh well. It really stinks and what stunk even worse was their customer service.

 

[va32h]

Depends on the bank, can even depend on the teller! I have had checks from relatives be credited immediately with one teller, and held for a week with another teller.

I bank with Wells Fargo and in general: cash deposits or checks drawn on another Wells Fargo account are credited immediately. Payroll checks, government checks, and the first $100 of any other checks are credited at midnight that night. Anything else is appears to be at the discretion of the teller.

 

[LisaNJ25]

That's interesting about the ATM. The teller at my son's bank actually recommended to him once that he make a deposit at the ATM b/c it would go into his account SOONER.

At my bank, if I make a larger ATM deposit, I get immediate credit for $100 of it if it's in before a certain time (4, I think) , and the rest is credited at midnight. If I make a deposit at the bank branch, it has to be in before 2 to be credited at midnight and there's no immediate $100 credit. Weird stuff.

Is this BOA? Sounds just like mine. I use ATM deposits 100% of the time.

 

[TallyLassie]

I called BOA today and they said it depends upon the bank the check was written upon, but generally it takes 7 working days.

 

[Barb D]

Well, fortunately it ended up not being an issue. DD7's orthodontist only charged us half of what we expected to have to pay today, so now we have plenty of cushion for the rest of the month. Otherwise we would have been cutting it close!

Thanks for all the info, everybody!

 

[LadyyRedd]

Luckily for me, I have a 16 year totally clean history with my bank. I've never even bounced a check with them. So, because of that, all of my deposits are immediately available for withdrawal.

Kimya

 

[ChristmasElf]

We have USAA--we have to mail in deposits..but the deposit clears immediately upon receipt.

Our direct deposits are there immediately.

You will have to ask your bank as to what their rules are for deposits.

Not any more!!!!

Now you can just scan the checks into your account with a scanner and your computer!! The checks will show up in your account immediately! I did this yesterday (Sunday) and by the time I was finished (about 2-3 minutes per check) the money showed up in my account!! Just go to usaa's website and they will walk you through the process with a check scan demo.

USAA is the first bank to offer this service..They are AWESOME.

 

[camreesmom]

Is this BOA? Sounds just like mine. I use ATM deposits 100% of the time.

Capital One/Hibernia does this same thing. I try to do only ATM deposits there also. If you go to the drive thru or inside, you could possibly end up with a hold on your deposit but for some reason, they don't put a hold on deposits made in the ATM. One of the tellers told me this and it has held true for me.

At our local credit union, it is up to the teller's discretion so I'm crossing my fingers when I get to the drive in window, hoping that I get lucky and get a teller who doesn't put a hold on my deposit.