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If someone gives you a cheque and it comes up NSF, how long does it take after you deposit it before you're notified that it's NSF? I've never had one before, I'm just curious as to how it works. Does it just show up on your online banking that it hasn't cleared or how do you know?
Good question! I've never had it happen to me either, and am interestedin the answer...
It can be up to a couple weeks depending on the bank. Faster now that so much is electronic. Used to be not until months end in the days when it was done by hand so at least it has improved.
I don't accept cheques and I rarely use them myself but I think you would know in under two weeks..... But you could ask your bank
Yup - it varies on a number of things ... if you deposit in a machine verse to a teller, if you are both dealing with the same bank or which bank if it is not the same bank.
I have known within 2-7 days depending on those factors...you would get notified by checking your balance either online or at a machine long before you will actually get the 'returned cheque' in the mail ... I have had that part take up to two weeks for me to 'know' which client it was who bounced if they paid on the same day and same amount ... but generally IME the client will come to YOU in advance letting you know it's bounced before you have to wait to find out 'which client' it was to address it!
Thank you!
I had it happen once and the client let me know right away, but my bank didn't notify me until a couple weeks later.