![]() ![]() Now, another thing to keep in mind is that even if some or all of your deposit is available in your account, it doesn’t necessarily mean that the check has cleared. Then the individual check amounts will be posted to each account. The clearing house will sort all the transactions coming from one bank to another and send the correct amount of money to each. But many others will send a check through an intermediary called a clearing house in order to process it. Some large banks work directly with each other to clear checks. When you deposit the check at your bank, they will send the check, or an electronic image of the check, to the payer’s bank. When you deposit a check at a bank or ATM, it can take a little more time because your bank needs to collect the funds from the payer, whose account might be at a different bank. That means that the processing-making sure the account that the deposit is coming from has enough money to cover the transaction-can also happen in advance. That’s because the bank that the deposit is coming from will schedule a credit to your account through your bank in advance. Scheduled direct deposits from a payer-like your employer-are usually available in your account on your regular payday-or the following business day. That’s because ATMs now automatically count the bills you insert, rather than waiting for tellers to verify your deposit later. ![]() If you deposit cash using your bank’s ATM, you’ll typically be able to access your funds right away. Your teller will be able to let you know. ![]() If you make a cash deposit with the teller at your bank, the money will often be available in your account immediately, or the next business day, depending on your bank’s policy. Why the difference? Well, it often has to do with the way banks process different types of deposits. You may have noticed that when you deposit money into a bank, sometimes you have access to that money right away while at other times it might take a few days before it becomes available for you to use. ![]()
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