eli5: Why can’t banks call each other to velidate availability of funds?

Question

Why are there laws to place such long holds on checks(10days)? Can’t the receiving bank simply call the bank where the check originates from and velidate it themselves?

In: 5

Answer 1

Banks receive thousands of checks a day… think of the manpower involved to do that. Think of the added costs involved, and how that would trickle down to bank customers.