Of course, your bank
will take the money
as fast as they can read your signature
on your check
. They probably grab your money
even if they can't
read your signature, just to be sure. And until a law
is passed, they will hold on to your money
for as long as they can. It has nothing
to do with technology
; it's pure and simple greed
I saw that in Norway banks cannot take interest on their customers money while it is en route between accounts or banks or whatever. That makes sense, since, just like domaindudu points out, it's just a split-second transaction in their system.
On another note, why are you still using checks? That's a relic from the twentieth century that won't be missed. I have never ever used a single check in my life.
Update: Since writing the above, I have moved to the United States. I now have used many checks...