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I wrote a check on my account for a down payment in amount of 3500 on a car yesterday on Saturday February 28th but was told I cannot have the car til it clears the bank. How long does that typically take? The salesmen at the dealership told me that all the money is taken up to the local bank after each day so it shouldn't take to long yet I've read it can take up to 5 days. Can anybody shed some light on this? Thanks !:)
March 10, 2015 10:54:52 PM
In reply to charles, miami
Thanks for coming to TD Helps with your question, Charles.
As you mentioned that the check was written out to a dealership, if they do not use TD Bank as their financial institution, it would be necessary to check with their bank to determine their check-clearing policies and timeframes. You may note that all checks are cleared via the Federal Reserve Bank, and the location can affect the clearing time, as well as several other factors.
We appreciate you stopping by and hope you have a nice night. If you have any other questions though, you know where to reach us!
Justin B, Mount Laurel
March 10, 2015 10:56:39 PM