You are already aware in a variety of ways exactly just how your bank checking account works. You compose paper checks, withdraw cash from a teller that is automated (ATM), or spend with a check card. Your paycheck might pass “direct deposit” into the account, or perhaps you may deposit checks at a bank’s teller screen or ATM.
But recently, you may have noticed alterations in your bank checking account. The checks you compose may be “clearing”—the cash is being removed from your account—more quickly.