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Time Limit for Reversing Deposit?
A deposit was made to my checking account, then five months later, the bank told me that the check was not honored by the maker's bank. How long does the bank have to reverse or contest a deposit? Is there a time limit?
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 If the check you deposited was drawn on another bank in the U.S., and there were no transportation or delivery delays, it should have taken no more than three days for the check to get to the bank it was drawn on, a day there for processing, and three days for the check to come back. Seven business days is a generous rule of thumb. That's a week and a half.
If the check was lost on its way either to or from the bank it was drawn on, through no fault of either bank, there is no real time limit, but there is only one way to find out why it took five months. Ask your bank to find out. If the other bank sat on the check more than twenty-four hours, its return of the check was not timely.
Published on BankingQuestions.com 8/07/09
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