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Banks did this despite the fact that purchases made with a debit card didn't involve a loan from the bank, posed very little fraud risk and were extravagantly profitable to banks because they eliminated the costs of processing and clearing checks.
Clearing checks for banks (which the Fed still does)?
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The bank made those funds available without waiting for the checks to clear.
The Mint acknowledges orders (and clears checks) as promptly as possible, but it may be many months before accepted orders are filled.
Prosecutors who put together the recent criminal complaint against Mr. Khan said his fraud was an outsized version of a familiar swindle — check kiting — in which the thief takes advantage of the time it takes for banks to clear checks.
They can also clear checks out of the order in which they are presented — processing the largest item first — so that the account is emptied quickly and they can levy multiple overdraft charges.
Labour have said the police and security services have to be able to keep up with new technology, but there must be "clear checks and balances" on what they are able to do.
The credit union is waiting for a master account from the Federal Reserve System that allows it to clear checks and transfer funds within the nation's money system – something all financial institutions must have.
You should also keep all receipts and cleared checks.
The insurer needs to know that you keep your gutters clear, check the roof tiles and insulate pipes.
Aside from their main duty of tracking down smugglers they do a lot of patrolling to see that channels are kept clear, check up on harbor conditions, etc.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com