Showing posts with label Ron Lieber article. Show all posts
Showing posts with label Ron Lieber article. Show all posts

Wednesday, September 23, 2009

What are the rules at your bank? A great New York Times article (from Yahoo)




How come... it takes so long for checks to post to the bank?



I looked at the Yahoo main page today and saw a great article by Ron Lieber at the New York Times about bank policies. I immediately went there to read it.

It is good to know when a check will clear. If you don't, you face disastrous bounced check charges. (Unless you have a cushion...)


Today, many checks and deposits are electronic. But some banks are still slow to clear a check. Some banks and credit unions do a better job, Lieber says.

The article has some really good advice, like asking the bank how long it will be on a deposit, for instance, or using Direct Deposit as much as possible. There is also a possibility you can speed things up by using an at-home feature.

I may just print the whole article out for later reference. I hope it is helpful to you, too. 

The article - Hurry Up and Credit My Account by Ron Lieber

Find out more:
http://www.bankpolicies.com/
The Consumer's Union site bank issues
The Check Clearing for the 21st Century Act (2004)
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