Best place to cash a cheque?
trixiefire77
Posts: 14 Forumite
I'm just getting back on my feet after going bankrupt in September - got a new job, just received my first pay cheque, have opened a Coop Cashminder account.
My question is - do I pay the cheque into Coop or cash it?
I know Moneyshop etc charge commission on cheque cashing but things are tight before Xmas and I don't know if I can risk the cheque taking a long time to clear.
I'm trying to be more careful with my money so any advice greatly appreciated - best places to cash cheques, time cheques take to clear with Coop etc.
My wages are only £94.50 BTW so I'm not rolling in it - yet!
:0)
My question is - do I pay the cheque into Coop or cash it?
I know Moneyshop etc charge commission on cheque cashing but things are tight before Xmas and I don't know if I can risk the cheque taking a long time to clear.
I'm trying to be more careful with my money so any advice greatly appreciated - best places to cash cheques, time cheques take to clear with Coop etc.
My wages are only £94.50 BTW so I'm not rolling in it - yet!
:0)
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Comments
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depends on how much % moneyshop will take (as well as their "handling fee".....personally i'd co-op it then wait a few days
otherwise you'll see even less of your paycheque with themWe all die. The goal isn't to live forever, the goal is to create something that will0 -
philnicandamy wrote: »depends on how much % moneyshop will take.....personally i'd co-op it then wait a few days
AGreed. Money shop would prob have a minimum charge also (dont know, but probabley)I'm no expert, but i'll give you my opinion, my support and my experience. Its all i have.
Delcared BR 28th May'10 - Married 30th April'11 - Auto Discharged 28th May'11 - Life Changing0 -
FWIW try to put it directly into a coop bank branch and they can usually tell you when it's cleared, putting it in via a post office can add a couple of days onto the time.
lbm0 -
normally only takes 4 working days for a cheque to clear, can u really not wait that long for the sake of a paying a ridiculously large fee to speed things up by 3 days ish? don't do it! pay it in the bank and wait 4 days0
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I have one to pay in too, refund of my court fees. I'm taking it to the branch (15 miles away). It took me long enough to get it. Post office is good otherwise.0
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I banked cheque into PO for my co-op account, funds were in my account by the end of a week.2019 MFW No. 74 £13700/£30000 (45.66%)
12k in 2018 No. 98 £6274.19/£18000 (34.85%)
BTL (start) £97440.00 (current) £68000.00
Residential (start) £275000.00 (current) £268000.000 -
Could you ask your employer if you could be paid by the BACS system, this takes only 2 days.
My employer does mine on a Wed and its in my bank on Friday.make the most of it, we are only here for the weekend.
and we will never, ever return.0 -
Post Office...best bet if nearer...cash payments even quicker..as in 'instant!'No, I don't think all other drivers are idiots......but some are determined to change my mind.......0
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Could you ask your employer if you could be paid by the BACS system, this takes only 2 days.
My employer does mine on a Wed and its in my bank on Friday.If you woke up this morning congratulations, you have another chance :j0
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