What time of night do banks update ? Is it midnight?

Question

I am waiting ofr some funds too clear thta were transferred from one branch of natwest to another. They showed up as being there on 24 but are uncleared today.

Answer 1

Yes it is and so one minute past you can get money out of your account.

Answer 2

There is not set time, but all checks must clear through the Federal Reserve Bank (The FED - or FRB).

It can take 1-5 business days depending on the amount of the check, if it is local, in state or out of state, the length of time you had the account, the account history, and the bank's own rules. Typically, local checks 1-2 business days. Out of state checks, up to 5 days depending on the bank.

If you need the funds sooner, you need to hand deposit the check (live person), and ask them if they can release the funds. If you have funds to cover, and a good account history they may release the funds in good faith.

Payroll checks should never be held.  Funds should be avail immediately if hand deposited or auto-direct deposited, and the banks knows it is a payroll check.

Bank Wire Transfers.

Last I recall it was same day before 2 PM EST., or next day if done after 2PM EST.

Answer 3

That varies by bank.

Answer 4

it usually is midnight when the banks update everything and things like cheques and wages clear/go in etc

Answer 5

in the UK its differs by bank, My barclays up dates at midnight but my Halifax and HSBC up dates at 3am