2. misc-audio
  3. 1292372579

How long do you wait for a check to clear

Hello, I'm selling some equipment for several thousand dollars. I told the buyer that I would take a personal check and send the equipment after it clears. My bank said that they couldn't tell me when it cleared, only if it was returned. They said that in most cases it should be ok in 10 business days. I'm not sure when to ship the equipment Does anyone have any experience with this? Help!!
bwos
xti16
1,525 posts
 
I use 2 different banks. With 1 I can see on line when it clears and with the other I just have to look at my balance and when it changes. Maybe it's just me but I can't believe the bank can't tell you when it cleared.

That being said I can say I have read right here on AGon where checks and money orders have cleared but later rescinded. They also may have been international transactions.
blkadr
739 posts
 
For that kind of money you should take as long as it takes for your bank to assure you the check is through, and will take full responsibility. Any buyer sending a personal check for thousands of dollars should understand. Don't feel pressured to ship before you are sure. The risk is too great and the buyer placed it all on you.
thorman
1,262 posts
 
It does take 6-8 Business days
glory's avatar
glory
1,614 posts
 
Why did you not ask for a certified check from him?
schipo
1,268 posts
 
as long as the check is in the buyers name and to give it 6to8days to clear. I would go directly down to the bank to talk to a rep and make sure the cash cleared and is in your account.
More to discover