5-7 days clearance for an E check. Then perhaps four for it to be sent to my business bank account.
On the very day I got the notice on the E check clearance time, the bank account I use received an EFT from Hong Kong EIGHTEEN HOURS after it was transmitted. From AU usually takes 3-4 days, tops.
I think it is reasonable to wonder who has the use of the money in the 10 days or so it is floating* around. Is someone taking it to the casino and trying to double it? They certainly have time to do so.
I could be sent a money order or cashiers' check by snail mail faster than this. I'll take a look and see if there is a way I can refuse E-checks in the future.
*Yes, the term is called "Float".
