How does the bank process a check deposited into an account?

Posted by Smycze | Posted in Corporations | Posted on 07-05-2010

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pinktinkxoxo asked:


How does the bank get cash from another bank when a check is deposited? Does the bank mail the check to the bank it was written from and request cash or is it like a credit with that bank?

How does online banking work. Does my bank print a check and mail it to the payee?

Posted by Smycze | Posted in Personal Finance | Posted on 31-10-2009

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Or is money wired to the payee from my bank? Doesn’t online banking cost the bank money? How come banks don’t charge for this service. I’m not naive I know they pass on the cost to me but how?Submited by:HSB