Quote:
Originally Posted by disneysteve
I have no idea why in this day and age with everything electronic it takes any time at all to confirm that a check is good. What about those systems that let businesses deposit checks by scanning them in and not even having to go to the bank. Isn't the whole point that the business knows instantly if the check is good? If you can do that, why does it take the bank even 3 days to verify a check?
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In many cases, because they are hoping to manipulate the balance of the account into an overdraw. It's called "fee-based banking," and it's something the industry turned to in recent years.