1 The check as a payment method is being replaced over time by electronic forms of payment, such as credit cards, debit cards and online account transfers.  Nearly all the checks the Federal Reserve Banks process for collection are now received as electronic check images.
https://www.newyorkfed.org/aboutthefed/fedpoint/fed03.html
But there are other important considerations to keep in mind: 1  Ask Questions When You Deposit: If you’re making a deposit in person, you can ask when your funds will be available.  Request Early Release: If there is a reason a check is unlikely to bounce, you can request an early release of your money.
https://wallethub.com/edu/available-funds/11314/
There’s good reason why your bank or credit union is permitted to put your funds on hold. Quite simply, your financial institution wants to ensure there won’t be problems with your deposit — in other words, that the check you deposited won’t bounce — before letting you spend the money.
https://wallethub.com/edu/available-funds/11314/
Back to Top Navigation. You already know in many ways how your checking account works. You write paper checks, withdraw money from an automated teller machine (ATM), or pay with a check card. Your paycheck might go by direct deposit into your account, or you might deposit checks at a bank's teller window or ATM.
http://www.occ.gov/topics/consumer-protection/depository-services/writing-check.html
Just because the funds are available for withdrawal doesn't mean that the check you have deposited will be paid by the financial institution on which it is drawn, even if it appears to be a legitimate personal or business check, bank treasurers or cashiers check. It could still be counterfeit.
https://www.bankatcommerce.com/has-my-check-cleared.htm
1 Nearly all the checks the Federal Reserve Banks process for collection are now received as electronic check images.  Regardless of whether checks are cleared as paper or electronic images, financial institutions have several alternative ways to receive payment for, or clear, checks deposited with them.
https://www.newyorkfed.org/aboutthefed/fedpoint/fed03.html
Read on to learn more. Funds Availability Policy by Deposit Type. Federal Regulation CC governs how long you can be made to wait before drawing funds against your account based on the timing, the type (e.g., cash, check, direct deposit) and, in certain cases, the amount of the deposit.
https://wallethub.com/edu/available-funds/11314/
The remaining 26 percent of checks were on-us checks, which are deposited at and drawn on the same depository institution.. To clear on-us checks, the institution makes the appropriate entries on its books, by debiting the payor's account and crediting the depositor's account.
https://www.newyorkfed.org/aboutthefed/fedpoint/fed03.html
Today, the Federal Reserve receives almost all the checks it processes for clearing as electronic check images. Regardless of whether checks are processed as paper or electronic items, financial institutions have several alternative ways to receive payment for, or clear, checks deposited with them.
https://www.newyorkfed.org/aboutthefed/fedpoint/fed03.html
Understanding Your Rights. You already know in many ways how your checking account works. You write paper checks, withdraw money from an automated teller machine (ATM), or pay with a check card. Your paycheck might go by direct deposit into your account, or you might deposit checks at a bank's teller window or ATM.
http://www.occ.gov/topics/consumer-protection/depository-services/writing-check.html
how are checks cleared
A check is cleared by direct depositing it into an account, or depositing a check at a bank teller window or ATM.