The Armour Archive

Just thought I would drop a note on how things work with me when it comes to payment types versus when I will ship. If the item in question is an in stock item and the payment is made by Paypal I try to ship as soon as possible. Almost always in a few days. (Yes I know there have been occasions when I have had delays) When the payment is made by personal check or money order, that will delay shipping.

Banks will usually release funds within 3 to 5 business days after a deposit of a check or money order. But that does not mean the check or money order has actually cleared. The reality is that a physical piece of paper check or money order can take up to 30 days to actually clear. In this day and age of electronic banking, issuers still demand the physical piece of paper to be in their physical possession before they will actually release the actual funds.

There has been at least twice that I have been bitten by bad checks, for substantial amounts. In both cases having shipped the armor, and had the funds released, only to have my bank come back after me 30 days later when the checks bounced.

This is one reason I prefer paypal. The money is there now. Not days later. And there is no question on my end that the funds are available and cleared. If the customer ends up having a problem with paypal and or their bank, paypal goes after them. Not me.

I know that some people have their issues with paypal, and I have had my issues with them as well, it beats some the alternatives.

So in short, I do wait on shipping orders paid by check or money order until at least the bank releases the funds, but normally do not make you wait the full 30 days.

Banks will usually release funds within 3 to 5 business days after a deposit of a check or money order. But that does not mean the check or money order has actually cleared. The reality is that a physical piece of paper check or money order can take up to 30 days to actually clear. In this day and age of electronic banking, issuers still demand the physical piece of paper to be in their physical possession before they will actually release the actual funds.
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Sounds to me like you need a new bank! Every bank I've ever had has cleared checks in 3-4 days, or 7-10 days (if over $1000) and once they are cleared -they are cleared! If my bank processed a check after 4 days, then came to me 30 days later -they'd be shit out of luck! There fault, not mine! This is the reason why they don't clear them immediately. This is probably why I don't keep money in the bank though.

On another note, I agree with you in terms of shipping. I never ship something till the check clears -I don't care who it is! I have had several bad checks written to me by people who were obviously trying to rip me off!

O.o

Banks are required I believe by Federal law to release funds after certain amount of time, usually 3 to 7 business days, but that does not mean the check has actually cleared. I do business with 2 banks currently, and with 3 others in the past, and all of them have told me the same thing.