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
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.
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.
Check the buyer's feedback. That should give you some level of confidence. If there is no feedback, wait 21 days to play it safe. I once cashed a check at the bank and then deposited the cash. 14 days later, they took the money out of my account and said that the guy that wrote the check placed a stop payment on it. I asked how if I cashed it at the time could they possibly do that. They (Bank of America) said too bad. I was out $3300.