How long does it take for a check to clear? Top tips and banks compare

One essential thing to keep in mind here is that you should deposit checks at an ATM that belongs to your bank. Unlike electronic transfers, which offer short lead times, checks can take longer. In most cases, a regular check will clear in two working days, but banks reserve the right to hold them for longer if they deem it necessary. MyBankTracker has partnered with CardRatings for our coverage of credit card products. MyBankTracker and CardRatings may receive a commission from card issuers.

Why do banks hold checks for 7 days?

Check holds are designed to protect both you and the bank. They allow the bank time to ensure that the check deposit will go through so that you're not in danger of going into overdraft or having the check returned. That's a plus since overdraft and non-sufficient funds fees can quickly pile up.

The same hold times generally apply to checks deposited online via apps, though the ability to deposit 24/7 means some banks will clear it immediately or within one business day. Checks have hold times because the banks first need to make sure that the amount written on the check is actually available in the sender’s funds. Because we rarely deposit checks on the same day, week, or maybe even month, that they are written, the financial situation of the sender may have changed considerably in the interim.

Experts: Here’s How Much You Should Have in Your Checking Account

Unless a problem occurs, your bank is legally responsible for making the funds available within a reasonable amount of time. Pete Rathburn is a copy editor and fact-checker with expertise in economics and personal finance and over twenty years of experience in the classroom. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Your full guide to understanding what a debit card is and how it works.

How Long It Takes A Check To Clear

A check deposited into an account opened within the last 30 days may be subject to an exception hold. If a check for $2,500 is deposited on Friday, for example, $225 would be available immediately, and the $2,275 balance How Long It Takes A Check To Clear will be available on a non-holiday Monday. It’s also common to make the entire balance of direct-deposited checks available immediately. As an average, it can take up to five days for a deposited check to clear.

How to deposit a check

A business day typically ends at the same time the bank’s business hours do, and some institutions may even have an earlier cutoff time for check deposits. Deposits made past that time will usually be part of the next business day’s transactions. Some banks and credit unions make funds available faster than the two-day standard. Here are some of the larger institutions with same-day or next-business-day availability on personal checks.

How Long It Takes A Check To Clear

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