Site icon Leonid Mamchenkov

Banking paradox

Yesterday I discovered one of those banking paradoxes.  If you have a check and you want to get the money the same day, but I don’t want to turn the whole amount into cash, then you still shouldn’t go for “deposit check” operation.  The thing is that depositing the check to an account takes two to three days, because check needs to be cleared.  However, you can cash the check and then deposit cash to the account.  Both of these operations are imeediate.

Puzzled.

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