When can you be sure that a check has cleared?

[spaceballl]

Hi all,

Just got a personal check for my macbook that I sold on eBay. I want to make sure the check clears before I ship it off. Today the status of the deposit in my account went from "Pending" to just a plain ol deposit - it's now cleared yes?

 

[Fuzzbear]

Hi all,

Just got a personal check for my macbook that I sold on eBay. I want to make sure the check clears before I ship it off. Today the status of the deposit in my account went from "Pending" to just a plain ol deposit - it's now cleared yes?

no..not until it says posted.

 

[GoCubsGo]

A check can show as cleared in your account and then suddenly it can "unclear". I've had this happen to me when I worked for a photographer. The best thing to do when you get a personal check (who the hell uses them these days) is to call the bank and verify funds. Deposit it right away and then yes, wait for it to clear. Once clear you can only hope you're safe to move ahead but I have had checks clear, spent the funds, and then received a letter from my bank telling me I was being charged for the bad check fee ($25), and the overdraft charges because the other things I spent didn't quite clear. It cost me $200 for a $500 check bouncing.

I'm not trying to scare you, but I would wait until the funds completely hit your account and then ship. I wouldn't wait for it to say "pending, deposit, etc". After that you just have to trust the funds were there to begin with. I'd also wait to ship until Tuesday. That gives another business day for things to shift.

 

[JNB]

Call your bank and ask them what you're asking here, making sure you have them describe in no uncertain terms at what point the money is "good".