Compensation of check: how long does it take?

The check is a recurring form of payment, still widely used in Brazil, which allows you to receive the amount stipulated on the paper, deducted from the account of the person who issued it.

But there are still many questions about checks, the main one being how checks clear. How long does it take? And does it vary depending on the amount?

Follow our article to learn everything you need to know about check clearing.

Index:

• What is check clearing?
• How long does it take for a check to clear?
• How many days does it take to clear a check from another bank?
• How does check clearing work for amounts over R$1,000? Is there any difference?
• What if the check doesn't clear? What should I do?

What is check clearing?

We call “check clearing” the moment when the amount that should be paid by that check enters the account of the person who should receive the money.

For this to happen, there is bank clearing, which is the period in which the bank will carry out all the procedures so that you can receive the amount correctly, verifying that the check was filled out correctly and that there is a balance in the issuer's account.

How long does it take for a check to clear?

The time it takes for a check deposit to reach your account depends on several factors and how the deposit was made.

Therefore, it will depend on how you deposited to be able to clear the check.

Deposit at the “cash desk”

If you take the check to make the deposit at the service terminals, you must be carrying your documents and also, of course, the check in question.

If your check is worth up to R$ 299.99, after making the deposit, the check amount will be credited to your account within 2 business days.

In the case of a check over R$ 300.00, according to a determination by the central bank, the time for your check to be cleared is 1 business day.

An important detail: If the check you're receiving isn't crossed, you can go to the humanized service terminal and immediately withdraw the amount of your check.

ATM Deposit

If you wish, you can deposit your check directly at the self-service terminals, ensuring convenience and avoiding queues to deposit your check.

When making a deposit at an ATM, the timeframes for the check money to be credited to your account are:

• Deposit until 4pm: the deadline is 2 business days.
• Deposit after 4pm: 3 business days.

How many days does it take to clear a check from another bank?

The waiting time for the check amount to be credited to your account is the same, regardless of the bank where it was issued, that is, on average, it takes 1 to 2 business days for it to be credited, depending on the amount you have to pay.

What may happen is that you may benefit from depositing a check from the same bank. In some cases, the money may arrive the same day or the next day.

How does check clearing work for amounts over R$1,000? Is there any difference?

In the past, there was a difference in check clearing times. According to the Central Bank, they are divided into three timeframes:

• Band 1: up to R$ 299.99.
• Band 2: R$ 300.00 to R$ 250 thousand.
• Band 3: above R$ 250 thousand.

Thus, tier 1 received the check amount within 2 business days. Tier 2 had an additional day to receive it, and tier 3 could take even longer, as it was a much higher amount.

However, since 2017, with Circular No. 3,859/2017, the Central Bank of Brazil has decided to create a new system for clearing checks in accounts. This allows checks, regardless of the amount, to be paid within one business day.

Therefore, there's no difference when receiving a large check in your account. You must wait 1 business day for it to clear.

Keep in mind that some circumstances can interfere, such as holidays (municipal, state, or federal) and weekends, when the bank is closed. If the check is deposited after 4 p.m., it may take another business day for the funds to reach your account.

What if the check doesn't clear? What should I do?

If you wait 1 to 2 business days and the deposited check amount does not clear, i.e. the money is not available in your account, you must immediately contact the bank.

In cases like this, there may have been a problem with the check that you need to resolve, such as filling errors, bounced checks, or stopped checks.

By going to your bank branch, you can find out what happened to your check and resolve the problem.

Frequently asked questions

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