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Questions and Answers Feel free to ask any questions about Accrington and the surrounding area and hopefully one of our members can help you out. |
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Welcome to Accrington Web!
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20-11-2010, 09:37
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#1
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Full Member
Join Date: Dec 2005
Posts: 395
Liked: 6 times
Rep Power: 1541
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cheque clearance
Can somebody explain to me the mechanics of the cheque clearance system.
My bank received a cheque to e paid into my account on Tuesday yet it still hasn't cleared by close of business on Friday although on my ank statement it shows as being in my account on Tuesday
why does it take so long for a cheque to clear?
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20-11-2010, 09:42
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#2
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Senior Member+
Join Date: Apr 2010
Location: Accy born & bred :D
Posts: 1,958
Liked: 10 times
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Re: cheque clearance
I think it can take upto 5 working days to clear............
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20-11-2010, 10:02
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#3
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God Member
Join Date: Apr 2004
Location: Up Bash
Posts: 7,827
Liked: 44 times
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Re: cheque clearance
Most banks now will let you draw against it on the understanding that they can claw it back if it bounces. The actual mechanics of it are convoluted based on pieces of paper winging their way around the country.
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20-11-2010, 10:24
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#4
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Resting in Peace
Join Date: Oct 2005
Location: In a state of confusion
Posts: 36,973
Liked: 715 times
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Re: cheque clearance
Quote:
Originally Posted by entwisi
Most banks now will let you draw against it on the understanding that they can claw it back if it bounces. The actual mechanics of it are convoluted based on pieces of paper winging their way around the country.
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Thought they had tried to cut down on the time it takes for a cheque to clear entwisi
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35 YEARS AND COUNTING
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20-11-2010, 11:23
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#5
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Resting in Peace
Join Date: Jun 2007
Posts: 2,933
Liked: 0 times
Rep Power: 2780
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Re: cheque clearance
Quote:
Originally Posted by jaysay
Thought they had tried to cut down on the time it takes for a cheque to clear entwisi
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That's just their own bonus cheques
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20-11-2010, 15:24
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#6
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Resting in Peace
Join Date: Oct 2005
Location: In a state of confusion
Posts: 36,973
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Re: cheque clearance
Quote:
Originally Posted by Benipete
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Oh how silly of me not to realise that Beni
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35 YEARS AND COUNTING
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20-11-2010, 19:54
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#7
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Resting in Peace
Join Date: Oct 2005
Location: Clayton-le-Moors
Posts: 10,551
Liked: 16 times
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Re: cheque clearance
A few weeks ago, my daughter needed to transfer some money from her building society account to her current account, as she was expecting to pay a larger than average bill. The building society only issues cheques . no direct transfer to other accounts. Had to collect and post to her bank.
She had to post due to pressure of her work and the fact that all local banks had closed, and transferred to her bank in the centre of Leeds.
A few days later .. no showing of this cheque in her account. Rang to ask why. The reply was that they had not had time to open the post within the last four days !! They would ring her back. Never did .. twice. On the 3rd attempt they did and said they seemed to have mislaid her cheque.
She has had to go through the whole process again.
Can't really blame the staff at Leeds bank .. just heavier work loads for them due to closure of local banks and no way will they engage extra staff to cope.
Sign of the times, eh ?
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20-11-2010, 20:14
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#8
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Resting in Peace
Join Date: Oct 2005
Location: In a state of confusion
Posts: 36,973
Liked: 715 times
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Re: cheque clearance
Quote:
Originally Posted by katex
A few weeks ago, my daughter needed to transfer some money from her building society account to her current account, as she was expecting to pay a larger than average bill. The building society only issues cheques . no direct transfer to other accounts. Had to collect and post to her bank.
She had to post due to pressure of her work and the fact that all local banks had closed, and transferred to her bank in the centre of Leeds.
A few days later .. no showing of this cheque in her account. Rang to ask why. The reply was that they had not had time to open the post within the last four days !! They would ring her back. Never did .. twice. On the 3rd attempt they did and said they seemed to have mislaid her cheque.
She has had to go through the whole process again.
Can't really blame the staff at Leeds bank .. just heavier work loads for them due to closure of local banks and no way will they engage extra staff to cope.
Sign of the times, eh ?
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What an absolute nonsense Kate, all that messing about when a few strokes on a keyboard would have done the job
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35 YEARS AND COUNTING
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20-11-2010, 20:34
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#9
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Senior Member+
Join Date: Jan 2010
Location: neerabeer
Posts: 2,345
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Re: cheque clearance
It's a shame you had to go through all that bother.
I can transfer money from my Building Society to a current account while sat at my laptop keyboard and then go to the cash machine and get it out in the time it takes me to get my car out the garage and go to a cash machine.
I have only ever had to do it twice as I usually have to transfer money from current to building society as my pensions go direct to the current account.
It's a great advantage on the old days when the cheque or bank draft was the only option and the wait was unavoidable.
I am not with Halifax by the way. They once refused my a few K withdrawal to buy a new car so I changed to another Society who would do. No names.
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Gremlin R.T.
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20-11-2010, 20:41
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#10
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Resting in Peace
Join Date: Oct 2005
Location: Clayton-le-Moors
Posts: 10,551
Liked: 16 times
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Re: cheque clearance
Quote:
Originally Posted by jaysay
What an absolute nonsense Kate, all that messing about when a few strokes on a keyboard would have done the job
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The Cheshire have not got up-to-date obviously
The point was, though, on the bank's lack of response.
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20-11-2010, 20:55
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#11
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a multieloquent Mule
Xeno Tactic Champion!
Join Date: Dec 2009
Location: Back in Bramsche, Germany
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Re: cheque clearance
Quote:
Originally Posted by hedman2003
Can somebody explain to me the mechanics of the cheque clearance system.
why does it take so long for a cheque to clear?
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Firstly get the most expensive Stereo & Telly possible, write out dodgy cheque, present to gullible shop & have it away on yer toes ! It's just as well it takes so long or how else are you going to get away with it ?
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21-11-2010, 09:23
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#12
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Resting in Peace
Join Date: Oct 2005
Location: In a state of confusion
Posts: 36,973
Liked: 715 times
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Re: cheque clearance
Quote:
Originally Posted by katex
The Cheshire have not got up-to-date obviously
The point was, though, on the bank's lack of response.
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The problem would have been eliminated if The Cheshire had moved into the 21 century
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35 YEARS AND COUNTING
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21-11-2010, 09:41
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#13
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Coffin Dodger.
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Re: cheque clearance
Quote:
Originally Posted by katex
A few weeks ago, my daughter needed to transfer some money from her building society account to her current account, as she was expecting to pay a larger than average bill. The building society only issues cheques . no direct transfer to other accounts. Had to collect and post to her bank.
She had to post due to pressure of her work and the fact that all local banks had closed, and transferred to her bank in the centre of Leeds.
A few days later .. no showing of this cheque in her account. Rang to ask why. The reply was that they had not had time to open the post within the last four days !! They would ring her back. Never did .. twice. On the 3rd attempt they did and said they seemed to have mislaid her cheque.
She has had to go through the whole process again.
Can't really blame the staff at Leeds bank .. just heavier work loads for them due to closure of local banks and no way will they engage extra staff to cope.
Sign of the times, eh ?
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Is that not another reason they can get away wi incompetence? people not really blaming the staff.! who mislaid the cheque? fresh air freddie? also who never rang back a couple of times after saying they would? yer saying not providing a service to a customer aint there fault. ridiculous.
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N.L.T.B.G.Y.D. Do not argue with an idiot, they will drag you down to their level and beat you with experience.
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21-11-2010, 10:32
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#14
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Resting in Peace
Join Date: Oct 2005
Location: Clayton-le-Moors
Posts: 10,551
Liked: 16 times
Rep Power: 11257
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Re: cheque clearance
Quote:
Originally Posted by cashman
Is that not another reason they can get away wi incompetence? people not really blaming the staff.! who mislaid the cheque? fresh air freddie? also who never rang back a couple of times after saying they would? yer saying not providing a service to a customer aint there fault. ridiculous.
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In retrospect, you are right Cashy ... she was more angry at the bank than the building society. I suppose I am too kind to people in making excuses for them. ... just that you hear so much about redundancies and the staff that is still there being loaded with their past colleagues' work.
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