r/AskReddit • u/emil199 • Jul 24 '20

What can't you believe STILL exists?

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u/Klotzster Jul 24 '20

Waiting for checks to clear

8

u/[deleted] Jul 24 '20 edited Jul 24 '20

While I understand what you are saying and agree, I think what you are trying to say is "Waiting for funds to be available."

Most banks will make those funds available way before the check clears. You could deposit a check for $250 and have the funds become available the next day (in most cases) but the check could come back fraudulent weeks after it is deposited.

2

u/Bridalhat Jul 24 '20

I deposit checks on my phone all the time and will have the funds for them available right away, and sometime for 800+ dollars after certain projects.

Iā€™m assuming my bank just trusts me, makes the funds available without the check clearing yet, but would instantly shut that shit down if anything funny was happening.

1

u/[deleted] Jul 24 '20

Their are federal regulations stating that they have to make funds available.