How long does a large check take to clear?
It depends on your bank and how long they think they can hold YOUR money before you get upset and close your account and move your money to another bank. Don't forget that Bank of America's CEO Brian Moynihan stated that his bank has a right to earn a profit. They are in business to make money, which they do off of your money. And to provide customers with timely service is somewhat of an afterthought these days. The longer they hold your money, the more they can make.
There's no ready answer. This depends on a number of factors including the policies of your bank and the payor's bank; the amount of the check; and the location of the accounts. Many banks place holds on large or out-of-state checks, or may extend courtesies to longtime accountholders by permitting the funds to be accessed sooner. Suggest talking to your teller or branch manager to find out your bank's policies and when you might expect…
In Washington state if you pay off the balance will you get your repossessed vehicle back the same day?
The same length of time it takes for any other check to clear. Banks are not actually obligated by law (in the US) to pay any special attention to postdated checks, unless they have been specifically notified of them. If they have been notified, they are supposed to treat them as invalid if presented before the date on the check.
It depends on how large the check is, and what you want them to do with it. If you're talking about paying by check, as long as your information matches your driver's license, I'm pretty sure they would process the check. As far as cashing a large check, I would say it depends on the store. Some of them have banks inside, and there are locations that can cash income tax refund checks (which tend…
The limit will be dependent upon the bank you are at. They have limited amounts of cash on hand. And there are also reporting requirements anytime large amounts of cash are transferred. Many banks do not cash large checks to avoid fraud and bad checks being passed. They can be deposited and then wait for the check to clear, which can take a couple of days.