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
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 All of the preceding can be rescinded during the passage through the money system.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.
If the check is from a buyer and bank is in the USA, the seller's address and bank is in the USA... 8 to 10 working days... it's what folks say. (when actually the check will be processed overnight the first evening! But the check might come back.. so you should wait a week.
BUT: it the buyer or seller is in another country!! "danger, Will Robinson, Danger".
A two country check could come back MONTHS later as no good, depending on the countries involved. So no way would i ever use a two country personal check.. Use a bank transfer. (and I ask why did you not do a bank transfer? it is super safe, and all they need is your bank routing number Once the money is transferred, it is yours. period.(check #s and possibly the international bank routing number, which you can ask anyone at your bank for.)
I would assume you felt the buyer was trustworthy enough to just get the check, and send the stuff. Otherwise why would you do it, silly?
I have accepted personal checks from a few folks. But only for small enough things I can live with a bad result.
And.. I would never do it if the buyer asked to do it. That adds a lot of possible fraud risk into the equation. I am the one who says: Hey, just send me a personal check and it is OK.
Bottom line is, folks who elect to send a personal check as payment elect to wait a sufficient amount of time for you the seller to ensure the check has cleared and funds have been deposited. I'd not ship anything for 10 business days minimum. Banks don't want to accept the responsibility for you shipping goods based on a personal check so of course they're not going to advise you when a check is clear. I recently had to wait 12 business days for the clearance of a certified bank check before shipping the item to the buyer. I kept the buyer in the loop with regular updates, which is all anyone can expect of you. Buyer simply has to be patient, for they've elected to do so by sending payment in the form of a personal check. Adhere to the motto 'you'll ship no gear before it's time' and you'll be fine.
If it's a USA bank, search for a local branch, go to the manager and have it cleared on the spot via computer.

Walk out with cash or bank certified check, either way you can get instant credit in your own account.

I've had success with Wells Fargo, Bank of America and a couple of others. I think it was Chase that refused unless I also had an account.

It's worth a try, saves at least a week.