How Long Does It Take for a Deposited Check to Reach the Bank?
Traditionally, checks have a "float" period once you deposit them. This is the period of time between when you give your bank the check and when the issuer's bank gets the check back. How long this float period is varies, but the majority of banks are able to get deposited checks back to the issuer's bank within just a few days.
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Regulation CC
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Banks have the right to put some checks on hold after you deposit them. Regulation CC is a law that dictates how long this hold can be. The range of holds allowed under Regulation CC is one to 11 business days, as explained by the Banking Questions website. A bank typically gives you information about its hold policies when you open your account, as it can use different hold periods under Regulation CC.
Check 21
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Check 21 is another regulation related to bank accounts and deposits. Under this law, your deposited check doesn't need to get to the issuer's bank before the issuer's bank can clear it. This is known as truncating. The process works by using electronic techniques to verify the money is in the issuer's bank account. With banks that use Check 21 systems, a deposited check might be cleared in just a few seconds.
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General Guide
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Typically, most in-state or local checks take just one or two days to get back to the issuer's bank once you deposit them. If the check is out-of-state, it typically takes longer, with the check clearing in three to six days. If the bank where you deposit doesn't use a Check 21 system, distance between your bank and the issuer's bank is one of the major determinants of when the check clears.
Bottom Line
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Regulations regarding banking and checks try to protect the consumer's right to quick, efficient processing and the bank's right to thoroughly verify data. Because of these regulations, most banks get checks back to the issuer's bank within two weeks, depending on any holidays. If a check doesn't clear within a statement cycle and you know it has been deposited, you should ask your bank and the issuer's bank to review the processing and find out what happened. Because of Check 21, check issuers should assume that their checks will clear almost immediately and ensure the money to cover the checks is in their account at the time of issuance.
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References
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