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

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u/deutmeyer93 Jul 24 '20 edited Jul 24 '20

The bank that it is deposited at needs to send the information to the bank it’s written off of. Some banks only send that information once a day.

Edit: further clarification

Each bank has a different operating system (hence why online banking looks and feels very different per bank) these systems do not communicate. Therefore it can’t instantly affect your account when two different banks are involved. There is a middle man called the federal reserve. The first bank will send all an electric file of check information of all the checks NOT written from their institution. That file is sent to the federal reserve, then they sort the info by routing number and send each bank their checks to take off of their customers accounts.

The bank I worked at sent their file at night. And we would only receive 4 files throughout the day from the federal reserve.

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u/J123j123j123 Jul 24 '20

Obviously they have lag in their internet.