How does the bank process a check deposited into an account?
How does the bank get cash from another bank when a check is deposited? Does the bank mail the check to the bank it was written from and request cash or is it like a credit with that bank?
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July 20th, 2010 at 12:53 am
usually at the end of the day the bank sends the check off to another bank for the money they requested. I believe that they do mail it.
July 20th, 2010 at 1:27 am
After the Check 21 act was passed, what essentially happens is the information on the check is used to make an electronic transfer from the one bank to the other. pretty much everything is done electronically these days, even when a paper check is written.
October 22nd, 2011 at 12:21 am
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December 2nd, 2011 at 3:26 pm
sometimes it just feels good though