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Question I deposited a check in my bank but the bank has not credited my account. How long does it take for a check to clear?

Answer The availability of funds is governed by Regulation CC of the Federal Reserve Board and Part 34 of N.Y.S. General Regulations of the Banking Board. Funds availability generally depends upon three characteristics: a) Where the check is drawn (e.g., local or out-of-town institution), b) Dollar amount of the deposit, and c) The issuer of the check (e.g., governmental units or private sector). Financial institutions are required to post a notice of their funds availability policy pertaining to consumer accounts in each location where their employees accept consumer deposits.

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Regulation CC of the Federal Reserve Board

This site contains all Federal Reserve Regulations.
URL: http://www.ny.frb.org/pihome/regs.html
Contact: Consumer Representative
Phone: 18005223330 or Fax: 12126186440

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