When you deposit checks, the funding might not go directly into your account because the bank needs to verify the check’s authenticity before anything.
You might be asking yourself how long, why the check is on hold, and how to access your funds in the fastest way. In this post, we’re going to teach you how long it takes a check to clear at your bank, so continue reading below if you were wondering!
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Table of Contents
How Long Does a Check Take To Clear at Banks and Retailers?
We have listed below how long it takes for banks and retailers to clear checks:
|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
The law of 1987 gives you instant access to $200 of your check deposit but delays the check clearing for anything over $5,000, because it is considered a large deposit. The length of time a check is held depends on the amount, type of check and institution, but two to seven days is typical.
- Suspicious Transactions
The bank might find something suspicious about the check, it will be put on hold. If your check is six months or more in the past, you might run into some problems.
- Varying Bank Policies
As shown in the table above, the amount of time is based on your financial institutions policies. Some banks will credit the funds in the same business day as long as you make your deposit before their daily cutoff time but it might not be immediately accessible.
- History of Overdraft
The account’s overdraft history plays a role in how long it takes a check to clear. If the account has overdrawn often in the past few months, the bank will delay the funds.
- Insufficient Funds
The person who writes the check must have the funds available for the bank to clear the check. If you deposit a insufficient check, the bank will reverse the funds.
What Are the Fastest Ways To Access Funds From Checks?
Here are a few quick ways to access funds from a check into your account as soon as possible.
- Set Up Direct Deposit
Direct deposit is the most efficient way and quickest way to access the cash in a check. Direct deposits transfer money straight from another bank into your account. Your bank won’t need to verify the incoming funds and will be available the same day.
Make a Mobile Deposit
Another quick way to clear your check is by making a mobile deposit. Most major banks have their own apps where you just need to take a picture of the front and back of your check. The funds from mobile check deposits will be available the next business day.
Put Your Good Customer Status to Use
If you have been with the bank for a long time and shown that you are a reliable customer, your bank can trust you enough to shorten the clear time.
- Use an Online-Only Bank
Using an online-only bank is faster than mailing in your checks or wiring the funds because you can send checks on the bank’s app to make deposits.
If you were wondering how long it takes your bank to clear a check and give you access to your funds, then be sure to bookmark this page.
Here we have discussed why your check might be on hold, how long banks or retailers take, and the quickest ways to access your funds. Check out our our list of Bank Bonuses to learn more, here on HMB!