How Long Do Large Deposits Take To Clear

It may come as a surprise, but every bank has different procedures and policies that determine how long it takes for a check to clear.

Knowing how long it takes for a check to clear is important for money management . It's helpful to know when funds are expected to be in your account.

When you deal with checks it can seem confusing as to how much money you have actually available. After you look at your receipt or account balance you may notice two different figures.

One will read account balance, the other will read available balance. The account balance is what is posted to your account, including funds that have yet to clear. The available balance is the true amount of money in your possession, or the money you actually accessible to you.

The reason these two numbers may be different is because it takes time for your bank to verify the funds for the check you deposited. A person who lives paycheck by paycheck should have a good grasp on how long it takes for a check to deposit. You do not want to be surprised if a check takes longer than expected to clear.

Compare the time it takes to clear a check at the top 10 banks.

Depending on who you bank with will determine how long it takes for a check to clear. All banks are built and organized differently. Some banks offer funds available the next day, while it may take up to three or longer for others. Use the following table to get a breakdown how long checks take to clear at the top 10 banks.

How Long It Takes a Check to Clear at the Top 10 Banks

(Note: business days do not include Saturday, Sunday, or holidays.)

Waiting for a check to clear

If you have written a check to someone and are waiting for it to clear, the process is different than if you were to deposit it. You have to take the payee into consideration, and when he/she decides to deposit the check, and their banking institution's policies. You cannot truly predict when the funds will be pulled from your account on a check you wrote, because the other person may wait a while to deposit it on their end.

Review your online statement, account balance at an ATM, or call your bank to verify when the check is deposited.

What about cashier's checks?

Cashier's checks are a bit different. Depending on where the cashier's check originated from will determine how long it takes for the funds to clear. Most banks will make the funds available to you the next day. Practice caution when depositing a cashier's check.

There are many counterfeit cashier's checks in circulation. Do not be fooled if the funds are shown available in your account. It can take banks several weeks to figure out a cashier's check is fake. When a bank finds a fake cashier's check they retract the money you deposited earlier from your account. Learn how to spot a counterfeit cashier's checkto prevent the chance that you fall for a scam.

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