Question

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 - 5 answers

Best Answer

Chosen by Asker

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.

6 years ago

Other Answers

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

I received a cashiers check from a man 10 days ago and my bank still can not confirm it is cleared!! I am in Illinois and he is in Canada. It's frustrating for both parties...seller and buyer! I hound my bank daily and still after day 10 they say they do not know for sure if the cashiers check is good or not. I have left the funds in the bank for now and I am holding up sending the purchased item to the buyer. The funds ARE made available to me right away but if I remove them from the bank and the cashiers check turns out to be fraud I am responsible for paying that money back to the bank. NO ONE is crazy for not sending you an item as soon as you pay them with this type of check. I am in this situation right now, as the seller, and it stinks. No possible way to find out if the check has cleared until my bank states the issuing bank has cleared it. I had my bank call the issuing bank today and what a run around that was! Issuing banks do not like to disclose this information! so I wait and the buyer must wait......I got an entire lesson today from my bank manager about all the fraud involved with cashiers checks..."money guaranteed" you say? sure, it is IF the check is real...but you have to play the long waiting game to be sure that it is real.

by Michelle - 2 weeks ago