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How long does it take for a cashier's check to clear?
Just sent a cashier's check for an eBay item (small bucks, used kid clothing). Seller new to eBay, doesn't have a Paypal account set up. Seller says she has received the check and will ship when check clears. I'm thinking, Whaaaa? A cashier's check is like cash. Is she nuts, or am I?6 years ago - 4 answers
Not so fast, folks! There has been a LOT of fraud lately with cashier's checks and money orders. If it's drawn on a major national bank with offices near where the recipient lives it should clear in a day or so. However many checks from obscure local banks can take weeks to clear in some cases. The fraudsters have become so good with their fake checks that it's possible to take as long as 20 days or more for a bogus cashier's check to bounce.
There is an ad campaign running on TV about fake checks and anyone who has seen the ads (or been burned by one) will be rather cautious about a check received from an unknown person.
I always present cashier's checks for collection at my credit union. That way the check isn't credited to my account until it has cleared at the paying bank and has been confirmed as paid. That adds a couple of days processing time but avoids the chargebacks and bad check fees if the check is bogus. Most clear (or reject) within 3 to 5 days but I've had a couple take nearly 20 days to confirm as paid. And one bad one didn't come back for 23 days.
It sounds like the seller is being prudent. Be patient. By the way, you can confirm clearance through your bank as well. Once it clears, contact the seller and verify that fact.
well when we receive cashier's checks at my job we submit them to the bank within 24 hours and it clears almost immediately because it is called "certified funds" basically meaning whatever bank you got it from is stating that there is no way for that check to bounce. So if this lady has had your check for a while it may be that she hasnt even brough it to the bank because it would clear the same day she brings it to her bank. I'd be getting a hold of her and demanding my stuff or telling her you want your money back if she does neither then sue her ;)by Aleshia E - 6 years ago
She is crazy ;Cash it anywhere.by hurricane30 - 6 years ago
It clears next day if the bank issuing it is in the same town and two days otherwise, unless it is a counterfeit. If the other person isn't confident that they can recognize a counterfeit, then they may want to wait a while.by Bob - 6 years ago