How long do you wait for a check to clear


Hello, I'm selling some equipment for several thousand dollars. I told the buyer that I would take a personal check and send the equipment after it clears. My bank said that they couldn't tell me when it cleared, only if it was returned. They said that in most cases it should be ok in 10 business days. I'm not sure when to ship the equipment Does anyone have any experience with this? Help!!
bwos

Showing 1 response by driver

Like a few others have said, go to the issuing bank & have check cashed there. If there are none in your area, call the bank & ask if there are sufficient funds available to cover the check. Some of them will tell you, some will not, although they do have to tell you if the account is active.

You can also ask the issuing bank if you can check to see if that particular check has cleared. Again, some will tell you, some won't but your bank should be able to get that information for you. I would think 10 business days is plenty of time to find out.

Also, like a few have mentioned, usually the persons feedback is a good indicator of whether or not their check is good.

Down the road if there is a problem, let the community know who it is you dealt with, plus you will get more information on what to do next.

Best of luck to you with regards to this transaction.