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  • FIRST POST
    trixiefire77
    Best place to cash a cheque?
    • #1
    • 10th Dec 10, 11:05 AM
    Best place to cash a cheque? 10th Dec 10 at 11:05 AM
    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)
Page 1
  • philnicandamy
    • #2
    • 10th Dec 10, 1:21 PM
    • #2
    • 10th Dec 10, 1:21 PM
    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 them
    Last edited by philnicandamy; 10-12-2010 at 1:24 PM.
  • Falze
    • #3
    • 10th Dec 10, 1:22 PM
    • #3
    • 10th Dec 10, 1:22 PM
    depends on how much % moneyshop will take.....personally i'd co-op it then wait a few days
    Originally posted by philnicandamy
    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 Changing
    • lbm
    • By lbm 10th Dec 10, 1:36 PM
    • 282 Posts
    • 264 Thanks
    lbm
    • #4
    • 10th Dec 10, 1:36 PM
    • #4
    • 10th Dec 10, 1:36 PM
    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.
    lbm
    Look here first - Bankruptcy Help: Important topics, factsheets and links - this really is the best place to start!
    BSC Member 318
    • hunt85
    • By hunt85 10th Dec 10, 7:40 PM
    • 271 Posts
    • 143 Thanks
    hunt85
    • #5
    • 10th Dec 10, 7:40 PM
    • #5
    • 10th Dec 10, 7:40 PM
    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 days
    • andyf1980
    • By andyf1980 10th Dec 10, 8:31 PM
    • 681 Posts
    • 550 Thanks
    andyf1980
    • #6
    • 10th Dec 10, 8:31 PM
    • #6
    • 10th Dec 10, 8:31 PM
    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.
  • iquit
    • #7
    • 10th Dec 10, 8:35 PM
    • #7
    • 10th Dec 10, 8:35 PM
    I banked cheque into PO for my co-op account, funds were in my account by the end of a week.
    "Your journey has molded you for your greater good, and it was exactly what it needed to be. Don't think that you've lost time. There is no short-cutting to life. It took each and every situation you have encountered to bring you to the now. And now is right on time."

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    • McKneff
    • By McKneff 10th Dec 10, 9:31 PM
    • 34,345 Posts
    • 44,090 Thanks
    McKneff
    • #8
    • 10th Dec 10, 9:31 PM
    • #8
    • 10th Dec 10, 9:31 PM
    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.
    No one can make you feel inferior without your consent
    • alastairq
    • By alastairq 11th Dec 10, 9:26 AM
    • 4,981 Posts
    • 4,087 Thanks
    alastairq
    • #9
    • 11th Dec 10, 9:26 AM
    • #9
    • 11th Dec 10, 9:26 AM
    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.......
    • now
    • By now 11th Dec 10, 10:48 AM
    • 806 Posts
    • 654 Thanks
    now
    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.
    Originally posted by McKneff
    This is a good idea, however i paid cheques into the Coop and they cleared in the same timescales as any other bank, try and avoid taking it ti cash a cheque places as they only rip you off xx
    If you woke up this morning congratulations, you have another chance
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