New Banking Rule Reduces Float Time on Checks
NPR : New Banking Rule Reduces Float Time on Checks
This is cool.. Electronic verification of checks. Not sure how long it will take to clear checks now. It's faster than 3 or 4 days!
This is cool.. Electronic verification of checks. Not sure how long it will take to clear checks now. It's faster than 3 or 4 days!
posted by Ryan at 10/28/2004 07:33:00 AM
3 Comments:
You do understand that this is a bad thing for people who usually float checks, i.e. write a check two days before their direct deposit posts? The check used to clear the same day as the direct deposit posted. Now, the check could hit the account the same day that it's written. Just a word of advice from a banker, don't write a check unless you have the funds to cover it.
BTW, you can thank Osama Bin Laden for this. This is a half direct half indirect result of 9-11.
Osama es en fuego.
Osama Bin Laden is teh s uck.
Not 1337.
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