Do a telephone survey of banks in your area. Ask: Do they use electronic check clearing? If
Question:
Do a telephone survey of banks in your area. Ask:
- Do they use electronic check clearing?
- If they use a clearing bank to manually clear checks, ask what bank they use.
- Ask what the average period of float is for the bank.
- Ask what is the bank's policy for insufficient funds: do they pay to the limit of ledger balance or to available balance?
- What other provisions does the bank make to help small businesses avoid having checks returned NSF?
- When does the bank make available funds from deposited checks?
Write a report of your findings and present it to your class.
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