You probably know the trick, write a check, it'll take a few days to clear the bank. But that little grace period could soon disappear. Beginning in October, the "Check Clearing for the 21st Century Act" goes into effect. That means it will eventually take banks just one day to clear your checks, eliminating the "float" you're used to. Bank officials say it could take a while for the "Check 21" Act to affect your check clearing time. Jim Blasingame, V.P. Bank Operations Dept. said, "I think that's one of the fallacies about this act. Initially, and I'm talkin' for the first 2 or 3 years, it will not change the timing on check clearing. We're still talking about paper; creating substitute checks and having to clear those. It's not gonna be electronic." Some checking experts say despite the new act going into effect about 95-percent of checks clear in about one day anyway.