0
How long do you need to wait after depositing a check in your bank account and withdraw the cash?
Wiki User
∙ 14y ago
Below are the expected time durations...
* Local cheque - Same bank - One working day
* Local cheque - different bank - 2 to 3 working days * Outstation cheque - Same bank - 3 to 7 working days * Outstation cheque - different bank - 7 to 10 working days Note: These are rough figures. The actual number of days needed to receive the payment may actually be lesser or greater than the number mentioned here.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Can you withdraw money after you deposit your check in the ATM?
I don't think so. Typically check clearance takes atleast 1 business day even if the check you are depositing belongs to the same bank that owns the ATM and provides you the bank account. So, unless your bank account already had enough funds for you to withdraw, even before you deposited the check, the ATM may not allow you to withdraw the money. If you need cash instantly, the best option for you is to visit the bank branch.
What does an IRX transaction mean at Bank of America?
It can be a check you deposited earlier whose account was found to have insufficient funds (i.e., "bounced"). The bank is now un-depositing it, or debiting it, from your account.
Can you get a cashier check with a personal check?
Yes, you can normally exchange a personal check for a cashier's check at the bank on which the personal check is drawn (the bank named on the check). The bank will immediately withdraw the funds from the personal account and apply them towards the cashier's check.
How we can widrow money from a bank account?
You can withdraw money from a bank account by the following ways: a. Visiting the ATM and using the ATM Card b. Visiting the bank and using a withdrawal slip c. Visiting the bank and using a check If you want to withdraw cash in person - these are the only 3 ways.
What is the limit that you can withdraw at one time from your bank account?
there is no limit on the amount you can withdraw from your account as long as that sum is there
Can you withdraw money after you deposit your check in the ATM?
I don't think so. Typically check clearance takes atleast 1 business day even if the check you are depositing belongs to the same bank that owns the ATM and provides you the bank account. So, unless your bank account already had enough funds for you to withdraw, even before you deposited the check, the ATM may not allow you to withdraw the money. If you need cash instantly, the best option for you is to visit the bank branch.
Can you use check leaf for depositing money?
Yes, under Core Banking Service, you can use check leaf for depositing money to an account of a person of the same bank in another branch.
What is cashing checks?
Checks are monetary instruments that can be exchanged for cash. Cashing a check is the process of converting a check into cash. It can be done by submitting/depositing the check with the bank that has issued it or by depositing it with any bank that we have a bank account with. In the former cases you'll get cash immediately and in the case of the latter you'll get cash in 3-4 days if the account has enough funds to pay for the check.
Can you endorse a check for someone else to deposit in your account?
Yes, you can endorse a check for someone else to deposit in any account, yours or his or some random person in the Middle East. Once you endorse the check, it is considered "as good as cash" unless you write "For Deposit Only" on the back as well - then it must be deposited into a bank account somewhere. If you trust the person who will be depositing the check, feel free to endorse the check and let them take it to a bank or ATM for depositing into your account - they will need your bank deposit slip or your bank card with PIN to do so.
How do you cash a check someone wrote you?
There are two ways to do this. If you have a bank account of your own, and if your bank account has as much money or more, as the amount of the check, then you can take it to your bank and they will cash it for you. If you do not have such a bank account, your alternative is to take the check to the bank which issued the check (the address is printed on the check) and to also take legal identification with you (such as a driver's license or a passport) and they will cash it for you. I will also note that if neither of these alternatives is going to work for you, you might consider depositing the check in your account, or opening a bank account in which to deposit the check, rather than cashing it. It will clear, usually within a week, and you can then withdraw the money from your account. You do still need ID to open an account, however. Without ID, the world of banking is closed to you. Banks need to be able to confirm your identity.
How can I check if a check given to me has funds?
Take it to the bank it was drawn on and try to cash it. You can also try depositing it in your account, but you may be charged if it is returned.
What does an IRX transaction mean at Bank of America?
It can be a check you deposited earlier whose account was found to have insufficient funds (i.e., "bounced"). The bank is now un-depositing it, or debiting it, from your account.
Can you deposit a check made out to you into someone else's bank account?
No. A check can be deposited only into the account of the individual to whom the check is made out (issued) to. Depositing it into someone else's account is not allowed and even if done by mistake, the check will not be cashed and no payments will be made.
When do we debit bank account?
We debit our bank account every time with withdraw (take out) money from our bank account.
Whose PAN no is required while depositing rs 49999 or more in the bank account whether it is account holder's or the third party's PAN number who is depositing the cash?
The person who is depositing money
What is the journal entry when capital is introduced by depositing into bank?
Debit Bank account xxxx Credit Capital account xxxx
Can you get a cashier check with a personal check?
Yes, you can normally exchange a personal check for a cashier's check at the bank on which the personal check is drawn (the bank named on the check). The bank will immediately withdraw the funds from the personal account and apply them towards the cashier's check.
