BANK TELLERS please answer?

Question

How long does it take for a cashiers check to REALLY clear? (I'm not asking when the funds will be availabe) does it get sent off overnight to the issuing institution or is an image sent to the issuing institution?

Answer 1

Well with the new check 21 system, we now just send an image of the check, but it can take about 5 business days to "clear".  But please keep in mind that whoever gave you the check can still walk into the bank and place a stop payment on it after they gave it to you, in which case you may not find out for weeks later that this has happened.   If you are looking to have 100% secure payment, take the 15 or so $ fee and have them wire you the money since it will come directly out of their account to yours. I know this was a bit vague but I hope it helps. If you let me know some more specifics im sure I could help!