Cautious PNC Bank Delays Deposits.(Originated from Pittsburgh Post-Gazette)
Sep. 3--PNC Bank is extending the time it takes to clear a check under a new policy that could raise the ire of more than a few customers.
The policy, effective Oct. 14, extends the waiting period by two days for local checks and by three days for checks drawn on out-of-town banks.
The region's largest bank said it was making the changes to help combat check fraud.
The policy doesn't apply to checks deposited electronically to an account. That means PNC customers who receive their paychecks or Social Security checks under a direct deposit plan can continue to cash them immediately.
The changes also don't apply to checks drawn on another PNC Bank branch or on the U.S. Treasury. …
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