I know we’ve discussed alternatives to depositing checks here and then waiting for them to clear but I’m still curious.
Once in a while I still get checks drawn on US banks and it can take 21 to 30 days for them to clear and for the funds to become available in my Taipei Bank account.
But WHY? If a Christmas card can get to the US in under a week, a check can too. Someone on that end receives the check, does whatever they need to do to get the funds released, and I’m guessing that would be done electronically in this day and age. Right?
So why the 30 days?