Posted: 6/6/2014 1:01:54 PM EDT
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.....how long does it typically take to clear their bank after you deposit it?
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Insist on a certified check or USPS Money Order. Any other check may as well be on Charmin. Why? You just wait the delay time for it to clear. My bank must be extra careful about it because the money never posts for at least 2 full business days. The other bank I use will post it immediately, so I assume they put it in before it actually clears the other bank. |
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Why? You just wait the delay time for it to clear. My bank must be extra careful about it because the money never posts for at least 2 full business days. The other bank I use will post it immediately, so I assume they put it in before it actually clears the other bank. Quoted:
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Insist on a certified check or USPS Money Order. Any other check may as well be on Charmin. Why? You just wait the delay time for it to clear. My bank must be extra careful about it because the money never posts for at least 2 full business days. The other bank I use will post it immediately, so I assume they put it in before it actually clears the other bank. I already deposited the check via android mobile app......just trying to estimate how long to wait before I ship the ammo I sold on gunbroker. I know my bank has already credited my account, but if the check hits the buyers bank and comes back NSF, or he its a stop payment on it then my bank will rescind their credit. Kinda annoying since I told potential buyers I would take a personal check only from a local big national bank, where I could walk in and cash at no charge. |
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Insist on a certified check or USPS Money Order. Any other check may as well be on Charmin. money orders can be faked. best bet is to tell them you will cash the check, wait till funds clear, then ship. inform them this can take up to 10 days if they squawk too loud, their probably trying to fuck you |
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Realize when you deposit it, your bank may make it available in your account -before- it actually clears the bank/account it's drawn on. These rule vary by institution but there are regs on the amounts and durations. In other words, your bank may make it available to you the next day but if it's returned a week later for NSF, you will get a chargeback. Many scammers rely on people not knowing this. |
| Call the bank its from give them the account number off the check. Ask if there are sufficient funds. I had a coastie bounce a check for about 650$ once. I called his command after he avoided me for a few weeks. Got another check with a refund for the bounced one. And did as I described above before depositing |
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Realize when you deposit it, your bank may make it available in your account -before- it actually clears the bank/account it's drawn on. These rule vary by institution but there are regs on the amounts and durations. In other words, your bank may make it available to you the next day but if it's returned a week later for NSF, you will get a chargeback. Many scammers rely on people not knowing this. Yup. |
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Quoted:
Realize when you deposit it, your bank may make it available in your account -before- it actually clears the bank/account it's drawn on. These rule vary by institution but there are regs on the amounts and durations. In other words, your bank may make it available to you the next day but if it's returned a week later for NSF, you will get a chargeback. Many scammers rely on people not knowing this. I learned this the hard way 2 years ago when my bi-monthly paycheck bounced. 
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I already deposited the check via android mobile app......just trying to estimate how long to wait before I ship the ammo I sold on gunbroker. I know my bank has already credited my account, but if the check hits the buyers bank and comes back NSF, or he its a stop payment on it then my bank will rescind their credit. Kinda annoying since I told potential buyers I would take a personal check only from a local big national bank, where I could walk in and cash at no charge. Quoted:
Quoted:
Quoted:
Insist on a certified check or USPS Money Order. Any other check may as well be on Charmin. Why? You just wait the delay time for it to clear. My bank must be extra careful about it because the money never posts for at least 2 full business days. The other bank I use will post it immediately, so I assume they put it in before it actually clears the other bank. I already deposited the check via android mobile app......just trying to estimate how long to wait before I ship the ammo I sold on gunbroker. I know my bank has already credited my account, but if the check hits the buyers bank and comes back NSF, or he its a stop payment on it then my bank will rescind their credit. Kinda annoying since I told potential buyers I would take a personal check only from a local big national bank, where I could walk in and cash at no charge. It can still bounce after they show it clearing. I've heard of cases in the 10 - 14 day range before it comes back. How long you wait depends on how much you trust the other person, and if there's any structure in place to keep them honest. |
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It can still bounce after they show it clearing. I've heard of cases in the 10 - 14 day range before it comes back. How long you wait depends on how much you trust the other person, and if there's any structure in place to keep them honest. Call your bank. Find out how to know 100% that the funds are in your account...and at which point your bank is liable if they screw up. |
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I already deposited the check via android mobile app......just trying to estimate how long to wait before I ship the ammo I sold on gunbroker. I know my bank has already credited my account, but if the check hits the buyers bank and comes back NSF, or he its a stop payment on it then my bank will rescind their credit. Kinda annoying since I told potential buyers I would take a personal check only from a local big national bank, where I could walk in and cash at no charge. Quoted:
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Insist on a certified check or USPS Money Order. Any other check may as well be on Charmin. Why? You just wait the delay time for it to clear. My bank must be extra careful about it because the money never posts for at least 2 full business days. The other bank I use will post it immediately, so I assume they put it in before it actually clears the other bank. I already deposited the check via android mobile app......just trying to estimate how long to wait before I ship the ammo I sold on gunbroker. I know my bank has already credited my account, but if the check hits the buyers bank and comes back NSF, or he its a stop payment on it then my bank will rescind their credit. Kinda annoying since I told potential buyers I would take a personal check only from a local big national bank, where I could walk in and cash at no charge. Like others have posted, 0 to 10 days. I would wait before shipping. Did he follow your instructions on it being from a local national bank? If not, he'll have to wait. Posted Via AR15.Com Mobile |
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Like others have posted, 0 to 10 days. I would wait before shipping. Did he follow your instructions on it being from a local national bank? If not, he'll have to wait. Posted Via AR15.Com Mobile Quoted:
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Insist on a certified check or USPS Money Order. Any other check may as well be on Charmin. Why? You just wait the delay time for it to clear. My bank must be extra careful about it because the money never posts for at least 2 full business days. The other bank I use will post it immediately, so I assume they put it in before it actually clears the other bank. I already deposited the check via android mobile app......just trying to estimate how long to wait before I ship the ammo I sold on gunbroker. I know my bank has already credited my account, but if the check hits the buyers bank and comes back NSF, or he its a stop payment on it then my bank will rescind their credit. Kinda annoying since I told potential buyers I would take a personal check only from a local big national bank, where I could walk in and cash at no charge. Like others have posted, 0 to 10 days. I would wait before shipping. Did he follow your instructions on it being from a local national bank? If not, he'll have to wait. Posted Via AR15.Com Mobile No. He sent me a check from his local community bank out of state. In my GB ad, I explicitly stated checks written on BoA and Wells Fargo would let me ship immediately, as I could walk in and cash them at the counter. Now, he gets to wait, which I don't think he is too worried about. |
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I tell 99% of my customers, no offense, bring cash or call someone else. I do that for FTF transactions. Online, out of state sales I am OK with money orders and personal checks drawn on banks local to me, which allow me to have greenbacks in hand prior to immediately shipping an item. Last week I had someone ask me to take a personal check on a FTF ammo sale and I was like.... 
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I found out that it is a crime for someone to write a check that is no good but perfectly legal to write you a check then immediately stop payment  Not always. In some states a bounced check is a civil matter. In NH, if you stop payment on a check for over $5000 for goods that you have recieved, it is a felony. |
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Seriously though, in this day and time, why should it take 10-14 days? Here's how I understand it: Your bank images the check, sends the image to FRB that night. The next morning his bank either pays that transaction, or denies it and tells FRB why. If it's an NSF, invalid acct#, etc, your bank will essentially "try again."If it gets returned again, then it will not be paid. So I think 3 days tops, you'll know if it doesnt clear. |