How long do you wait for a check to clear


Hello, I'm selling some equipment for several thousand dollars. I told the buyer that I would take a personal check and send the equipment after it clears. My bank said that they couldn't tell me when it cleared, only if it was returned. They said that in most cases it should be ok in 10 business days. I'm not sure when to ship the equipment Does anyone have any experience with this? Help!!
bwos
as long as the check is in the buyers name and to give it 6to8days to clear. I would go directly down to the bank to talk to a rep and make sure the cash cleared and is in your account.
Check the buyer's feedback. That should give you some level of confidence. If there is no feedback, wait 21 days to play it safe. I once cashed a check at the bank and then deposited the cash. 14 days later, they took the money out of my account and said that the guy that wrote the check placed a stop payment on it. I asked how if I cashed it at the time could they possibly do that. They (Bank of America) said too bad. I was out $3300.
According to the manager of my local Wells Fargo bank, the recommendation is 10 business days for clearance for personal checks; bank money orders; and bank certified checks. All of the preceding can be rescinded during the passage through the money system. Only Postal Money Orders clear immediately.
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