07-03-2003, 03:28 PM
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 Re: Out-of-state checks holding period In microsoft.public.money, Vadim Rapp wrote: - quote - > Hello:
Out-of-state? No. See> It's not about Money program but rather about the money itself. > I wrote a check to a foreign company. The funds were drawn from my account, but > didn't arrive at the recipient's bank. I called Bank One, and they said there's > 15 days' holding period for all out-of-state checks, according to federal > regulations. http://caselaw.lp.findlaw.com/caseco...tion_4002.html Out-of-country? That's different I expect. - quote - > I wonder, who keeps the money and, naturally, the interest - is it Bank One > (unlikely), or the Fed (most likely)? as I recall, this must be a new > development, at least such a long term. |
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07-03-2003, 03:02 PM
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| Out-of-state checks holding period Hello: It's not about Money program but rather about the money itself. I wrote a check to a foreign company. The funds were drawn from my account, but didn't arrive at the recipient's bank. I called Bank One, and they said there's 15 days' holding period for all out-of-state checks, according to federal regulations. I wonder, who keeps the money and, naturally, the interest - is it Bank One (unlikely), or the Fed (most likely)? as I recall, this must be a new development, at least such a long term. Vadim |
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| checks, holding, outofstate, period |
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