If I deposit an out-of-state check, I'm not gonna get the money any faster from what I have seen.
In the old way, say you live in Florida and got a check out of California...
By Law the bank could place a hold for 5 days in an effort to hold down fraud. Often time collecting those funds from bank to bank would take the whole 5 days.
Under Check 21 you should get those funds credited and collected in 2 days.
There is still a collection time, but its just shorter, a lot shorter.
Over the next several months your out of state checks will clear a lot faster and instead of 5 days holds, you might see only 2 day holds in its place.
Check 21 is speeding up the system...