When you receive a check, you want that check to clear and the money to come in as soon as possible. However, you won’t be able to access these funds immediately after you deposit the check because banks need to verify if the check is authentic.
The amount of time it takes for a check to clear varies bank to bank. Typically, it takes around two business days, however, it can take up to five depending on the circumstances. Be sure to keep reading to learn how long it takes for a check to clear at your bank, the reasons for a check to be on hold, and the quickest way to get a hold of your funds.
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How Long Does a Check Take To Clear at Major Banks and Retailers?
Here’s a list of the amount of time it takes for a check to clear at some of the most popular financial institutions:
| How Long It Takes for a Check To Clear | |
| Bank or Retailer | Time To Clear or Cash a Check |
| Chase | Processed on same business day if received before 11 p.m. Eastern time through QuickDeposit; funds available for withdrawal by the second business day after day of deposit |
| Bank of America | Same-day credit if deposit is made by 9 p.m. Eastern time or 8 p.m. Pacific time or Mountain time; funds generally available next business day |
| Wells Fargo | Cutoff time varies, but funds generally credit to account the same day if check is deposited on a business day |
| Citibank | Funds available immediately if check is deposited via direct deposit |
| U.S. Bank | Cutoff time is 9 p.m. Central time Monday through Friday; after that or on nonbusiness days or holidays, checks are processed the following business day |
| TD Bank | Cutoff time is 8 p.m. Eastern time on a business day; funds generally credited on the following business day when you make a mobile deposit |
| PNC Bank | Funds credited same evening if deposit is made before cutoff time on a business day |
| HSBC | Checks will be deposited the same day when submitted through HSBC Mobile Check Deposit before 10 p.m. Eastern time on a business day |
| BB&T | Mobile check deposits are generally available the next business day; those submitted on weekends, bank holidays or after 8 p.m. Eastern time on weekdays will be processed the following business day |
| Capital One | Funds credited same business day if check is deposited at a branch before 2 p.m. local time; cutoff time for funds deposited at an ATM is 9 p.m. Eastern time |
| Walmart | Cash checks and money orders up to $5,000; receive funds in cash or loaded on Walmart MoneyCard |
| Kmart | Can get cash instantly for payroll, tax refund and government checks up to $2,000 and two-party personal checks up to $500 |
| Kroger | Can get your money immediately; must have a current government-issued ID |
| Ally Bank | Ally eCheck Deposits submitted before 7 p.m. Eastern time Monday through Friday will post that evening; funds available the next business day |
Why Your Checks Might Be On Hold
Large Deposits
A law that was made in 1987 states that the first $200 of a deposit must be accessible to the depositor by the next day. However, that same law also sets back the amount of time it takes for a check of more than $5,000 to clear. There are many reasons why a check is held for a longer amount of time. For instance, the amount of the check or the type of check and financial institution plays a factor.
Suspicious Transactions
The reason a check is held is because the bank needs to check if it’s valid, so if the check you deposited is suspicious in any way, it will take longer to clear. For instance, a check that has a date from over six months ago might raise some suspicion.
Varying Bank Policies
Depending on your bank’s policy, the check you deposited might take a different length of time to clear. Usually, you will be able to access your funds on the same day that you deposit the check if you do it before a certain time of day. However, there’s a chance that you won’t be able to withdraw that money instantly.
History of Overdraft
Your overdraft history also plays a factor in determining how long it takes for your check to clear. Your bank might hold your funds longer than usual if you have constantly been overdrawing your account within the last six months.
Insufficient Funds
The person who wrote the check must have sufficient funds available. If the person who wrote the check has insufficient funds, the bank will reverse the funds.
What Are the Fastest Ways To Access Funds From Checks?
Set Up Direct Deposit
If you are receiving a recurring check, like your paycheck, direct deposit is the most convenient and quickest way to access those funds. Setting up a direct deposit means that money is transferred directly into your bank account, and the bank doesn’t have to check the funds for validation after the first time. Furthermore, these funds are usually available to you within the same day.
Make a Mobile Deposit
A mobile deposit is another way to receive the funds from your check quickly. The majority of popular banks have check-cashing apps where you just have to take a picture of your check and upload it to your bank, along with other information. When you do this, those funds are usually accessible within the next business day.
Put Your Good Customer Status to Use
Customers who have banked with a financial institution for a while without any deposit issues may be able to receive a quicker clearance time. As a result, the bank might trust you and speed up the process for being a reliable customer.
Use an Online-Only Bank
Online-only banks offer mobile apps that allow you to deposit checks through your phone, which is usually much quicker than if you were to wire or mail the check.
Author’s Verdict
Hopefully after reading this post you are informed about how long it takes for a check to clear, and the varying factors that affect the amount of time.
In addition, we have a list of bank promotions to get some extra cash in your pockets today. You may also want to check out savings accounts if you want to get started on saving up money.
Anthony,
Federal law does NOT give different institutions different schedules, they are defined. You may wish to look up the actual LAW regarding all this. 7 business days is the MAXIMUM HOLD. That is 10 calendar days from deposit UNLESS a holiday exists, then add for holidays. If a bank does NOT follow the following rules they are VIOLATING LAW. Any HARM to YOU as a depositor that happens by a bank violate law is ACTIONABLE.
Just remember that IF the check you are depositing is drawn on the same bank you’re depositing to: The bank has NO right to hold the check at all. They must make funds available NEXT DAY.
Also read up on the 1985 Expedited Funds Availability Act, it SPECIFIES the MAXIMUM length of time in specific cases. except for accounts less than 30 days old:
Less than $5000: $200 next day, $600 second business day, Balance third business day.
Over $5000: $200 next business day, $600 Second business day, $4800 third business day, Balance 7th business day
Exceptions exist and are SPECIFIC and LIMITED to 7 business days:
Depository bank has reason to believe check is fraud, will not clear, is post dated or stale dated:
NOTE, it states HAS REASON TO BELIEVE. This means that YOUR bank can not place additional hold WITHOUT A REASON, this means they must have some CAUSE TO BELIEVE, not just a policy. THIS IS THE LAW.
Deposit is accepted during a power outage or computer failure (VERY RARE)
The deposited Item is a legal copy of a previously returned NSF check
AND HERE IS THE REALLY STRANGE RULE:
If your account has been overdrawn more than X time in Y months, or overdrawn more than $ZZZZ dollars they can hold ALL checks for 7 days…..EVEN IF YOUR ACCOUNT WAS OVERDRAWN DUE TO A HOLD ON YOUR OWN MONEY BY THE BANK (a hold that cleared even) OR due to OTHERS bouncing checks on you!!!
SO if your account is ever overdrawn the bank WILL penalize YOU for accepting bad paper fro another, and the FEDS, ,your elected representatives think that this is equitable. TO make you wait for money because you didn’t have enough money?
Lastly, at the time this law was written, checks were. PHYSICALLY moved to clearing houses. Today checks never leave your bank for accounting. In other words the only question after processing is “was the check fraudulent, post dated etc”? There is NEVER a reason for ANY check to be HELD pending anything because everything happens INSTANTLY every night.
Congress needs to revise all of this.