Re: 6 weeks for a check to clear?

Posted by a_bill_collector (24.129.64.219) on July 22, 2002 at 21:58:04:

In Reply to: 6 weeks for a check to clear? posted by Steve on July 20, 2002 at 20:52:23:

The time frame is usually dictated by the client and is based on their payment-processing center. The idea is to allow ample time for a check to come back as "NSF" or "STOP PAYMENT". While this does sound totally ridiculous, I have personally seen checks come back 3-4 weeks after being deposited. Most clients however will allow a "settled in full" letter to me send after 30 days.

As far as the credit reporting, this is usually up to the client, most CRA do not actually report.

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