Bank draft - How long to clear?
Hi!
I sold hockey tickets to someone on the internet, and since he did not know much about paypal, we agreed that he would send me a certified check instead.
He looks honest, but I guess anyone trying to fraud you would...
So, he sent me the certified check using xpresspost (I know frauding with USPS is a very serious crime in the US, don't know about Canada Post in Canada..) and I went to the bank. I asked them how long it would take for the check to clear and make sure it does not bounce, and they were not very helpful. They told me they would freeze the money for 2 weeks.
I don't care at all about freezing the money, I only care about the check not bouncing back.
The issuer is the Royal Bank of Canada and the buyer is located in Winnipeg. My bank is the National Bank and I'm located in Montreal.
I already deposited the check and did not do any copy of it so I cannot call the issuer bank anymore...
How long would you wait and is there any way to make sure the check is really cleared? I mean.. if they freeze for 2 weeks, is it possible it bounces back after 3-4 weeks for example?
Thanks a lot for your help!
Frank
I sold hockey tickets to someone on the internet, and since he did not know much about paypal, we agreed that he would send me a certified check instead.
He looks honest, but I guess anyone trying to fraud you would...
So, he sent me the certified check using xpresspost (I know frauding with USPS is a very serious crime in the US, don't know about Canada Post in Canada..) and I went to the bank. I asked them how long it would take for the check to clear and make sure it does not bounce, and they were not very helpful. They told me they would freeze the money for 2 weeks.
I don't care at all about freezing the money, I only care about the check not bouncing back.
The issuer is the Royal Bank of Canada and the buyer is located in Winnipeg. My bank is the National Bank and I'm located in Montreal.
I already deposited the check and did not do any copy of it so I cannot call the issuer bank anymore...
How long would you wait and is there any way to make sure the check is really cleared? I mean.. if they freeze for 2 weeks, is it possible it bounces back after 3-4 weeks for example?
Thanks a lot for your help!
Frank