"Online interaction is like two hungry cannibals sucking each other off in a classic 69 - it requires trust." --DD
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Why do checks still take so long to clear just deposited an out of state one 5 days to clear. With all the tech now they can know in minutes if it's good?
The Expedited Funds Availability Act, enacted in 1987, lays down the rules on the availability and collection of monies for all state and nationally chartered banks, thrifts, credit unions, and savings and loans. In accordance with that law, there are three standard hold periods: one, two and five business days. For example, the act allows banks to hold local checks up to two business days, and out-of-state checks and ATM deposits up to five.
Banks are homosexuals.
You should read the article Callaway posted Lit. Apparently ATM can result in bounced checks as well as exposure to unhealthy bacteria.