Fast Cheque Clearance

kevster1009 · 25 May 2007 at 7:26AM

Does anyone know if it is possible to get a cheque cleared in less than 4 working days at the bank.

I have to pay one in soon from Customs and Excise and would like to draw against it before the 4 days expire.

Thanks.

Kevster

aaroncaz · 25 May 2007 at 7:34AM

you used to be able to "pay" a small amount, to get your check cleared quicker, check with your bank.

Snaggles · 25 May 2007 at 7:49AM

I think the above refers to 'special presentation' or finding out the 'fate of the cheque' - it costs about a tenner, but only tells you whether or not the cheque WILL clear, it doesn't make it any quicker. Some banks may let you draw against the cheque before it clears though (Barclays I think? - not sure) although the risk is then that it would bounce once you had spent it.

lesley1960 · 25 May 2007 at 8:09AM

I pad in a cheque from the Inland revenue ( when they were known as that ) and was told by the bank that cheques from them cleared the same day .

Snaggles · 25 May 2007 at 8:25AM

Yes, 3 working days, with the funds becoming available to draw against on day 4 (even if day 4 is a Saturday).

Warriorsith · 25 May 2007 at 8:26AM

WhenI pay a cheque for a bill, it's 3 days. When I have a cheque sent to me it takes up to 10 days to clear!!! (Halifax). If you want it clearing faster I think its a £25 charge!!!

Bl**dy Cheek!

misspoppy · 25 May 2007 at 9:30AM

i think it all depends on wether you pay it into a proper bank or a former building society. 3 working days at a proper bank is usual.

Storm · 25 May 2007 at 10:26AM

I used to work in a solicitors accounts department, and we paid £10 for 'special clearance' on a personal cheque where we knew it wouldn't bounce the following day. However, we also used to pay in cheques as 'cleared funds' - these were ones that were guaranteed not to bounce such as drafts from banks/BS, other solicitors (cos of the regulations) etc.

I would speak to your bank because a cheque from customs & excise to my view is 'cleared funds' because it's not going to bounce - but probably depends which bank you're with...

kevster1009 · 25 May 2007 at 11:57AM

Thanks folks, my bank is Nat West. Hopefully I can pay it in next week as it hasnt come yet.

Anyone from the banks got any views?

rayday2 · 25 May 2007 at 12:57PM

There are only a few "clearing banks" most building socities that went over to banks are not "clearing banks" so with them cheques take longer to clear.

I think Barclays, Lloyds and Natwest are clearing banks to name a couple.

sammy115 · 25 May 2007 at 1:11PM

which bank is the chque from - i am with the natwest and I find them quite good at clearing cheques. Maybe if you explain to them and point out that it is a Customs and Excise cheque and hardly likely to bounce they may be sympathetic.

Fast Cheque Clearance

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