Is two days enough for a bank to clear my check deposit?

For those who knows it or who is in the financial institution business, I would appreciate it Today is Monday 4/28/08, I went to deposit a personal check that was written to me into my bank account at Bank of America. The paying bank is local bank, Wachovia, matter of fact, it's right across the street from my bank. I deposited the check in the amount of $800.00, and the teller told me they would have to put a 2 day hold on it, so the funds will be available on 4/30/08 after 5pm. I am wondering if this is enough time for them to process the check so I can be sure that once I use the money (when it is made available), I can be sure it won't be returned as unpaid or etc, then I would be charged fees. I have called the bank's customer service, they said that sometimes it could take longer than 3 days to clear because it has to go through Fed Reserv then the paying bank then back to my bank. Sometimes, the bank have to give me their money first if it takes longer than 4/30/08 5pm.

I am responding, not sure if this is how you do it. Anyways, Bank of America said they don't process checks until midnight tonight (monday night). so the first day of the hold would be Tuesday and that is why funds won't be available until Wednesday after 5pm. does anyone know how long it takes for the federal reserve to process the check and send it to the paying bank (Wachovia)? Long long ago, they physically do everything, but now it's electronic, so I wonder how long it would take. And there is no way of calling Wachovia to verify now that the check is not with me. I have to be cautious because I know Bank of America charges like crazy if checks are returned after they make funds available. It just seems that they should put a longer hold on it because from what it sounds like, the process takes longer than 2 days, a day for each process....right? BTW, it's a Saving that I put the check in, does it make a different?

Banks are regulated on the number of days they can place holds on items if deposited into a checking account, it's called Reg CC but savings accounts are not regulated on number of days a hold can be placed - but that doesn't say how many days it will take for a check to clear an account!

No-one ever knows how long or number of days for an item to clear another bank account and Each person has like 60 days from their statement date to notify their bank that an item is counterfeit or forged or wrong amount etc... and each person has like 7 years to question an endorsement on a check...

Your best bet is if you have a check that you are questioning - take it to the financial institution that it is drawn off and cash the item!
At this point, you already deposited the item - the only way to know if it's cleared is to call Wachovia and ask them if the following item has paid - some banks will tell you and some will not. Your bank will have no ideal - they can tell when their hold is released but that's it!

Savings accounts are not regulated like checking account but that doesn't effect the number of days if will take wachovia check to clear - Your bank should have record of every item that went through the bank and be able to retrieve a copy of the item for you!
Check21 is now in effect but however some financial institutions do check21 and some do not - with check21 - you could write a check in New York and it could clear your bank account in Oklahoma the exact same day - They turn your check into a electronic check rather than paper and the process is sped up but whether your Bank does check21 is a good question for you to ask them -

I think 3 days should be enough time.
One way to avoid this in the future, is to go to the bank the check is drawn on (Wachovia in this case) and Cash it and then deposit the cash. You may have to pay a small fee if you're not an account holder at the bank the check was written from, but if you need the money in your account right away, cash deposits will be credited to your account immidiately in most cases (or overnight at most).

I recommend you try to wait five days to be sure. Word of advice, the next time you are given a check; find a local branch for the account the check is drawn on; cash the check at the local bank branch. This avoids all waiting and worrying. If there are not enough funds in their account to cover the check you will know as soon as you try to cash it.

I think it depends on the amount ........

I know $50,000 would take 7 days ........

I would say 3 days should be right amount of time .

After 3 days I would check your acct ...........

you noticed the teller told you 2 days and you called and they said 3 days .....I'm getting to think they've no clue how long it takes .........

You wonder if they make up the amount of days ........

Again I would check acct after the 3rd day , to be safe .....