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Fast Cheque Clearance
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# 1
kevster1009
Old 25-05-2007, 7:26 AM
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Default Fast Cheque Clearance

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
MBNA are a joke.

DFW Nerd No. 232
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# 2
aaroncaz
Old 25-05-2007, 7:34 AM
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you used to be able to "pay" a small amount, to get your check cleared quicker, check with your bank.
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# 3
Snaggles
Old 25-05-2007, 7:49 AM
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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.
"I wasn't wrong, I just wasn't right enough."


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# 4
lesley1960
Old 25-05-2007, 8:09 AM
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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 .
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# 5
Snaggles
Old 25-05-2007, 8:25 AM
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Yes, 3 working days, with the funds becoming available to draw against on day 4 (even if day 4 is a Saturday).
"I wasn't wrong, I just wasn't right enough."


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# 6
Warriorsith
Old 25-05-2007, 8:26 AM
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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!
"I AM THE GATEKEEPER OF MY OWN DESTINY" Nacho Libre

'Proud To Be Dealing With My Debts' DFW Member No.495
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# 7
misspoppy
Old 25-05-2007, 9:30 AM
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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.
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# 8
Storm
Old 25-05-2007, 10:26 AM
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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...
Total Debt 13th Sept 2006 (exc student loan): 6240.06
O/D 1 1250 O/D 2 100 Next a/c 313.55@ 26.49% Mum 130 HSBC 4446.51@15.75%M&S 580.15@ 4.9%
Total Debt 30th April 2008: 0 100% paid off!

PROUD TO BE DEALING HAVE DEALT WITH MY DEBT
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# 9
kevster1009
Old 25-05-2007, 11:57 AM
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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?
MBNA are a joke.

DFW Nerd No. 232
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# 10
rayday2
Old 25-05-2007, 12:57 PM
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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.
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# 11
sammy115
Old 25-05-2007, 1:11 PM
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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.
Quality is doing something right when no one is looking - Henry Ford
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# 12
sammy115
Old 25-05-2007, 1:12 PM
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Or you could go to a cheque cashing place and pay a % of the cheques value. Not ideal but if you are desperate for the money.
Quality is doing something right when no one is looking - Henry Ford
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# 13
Becks in Debt
Old 25-05-2007, 1:32 PM
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I get my cheques cashed and out of 250.00 I normally come out with 233.00, but if you are desperate for the cash it is well worth doing, I have asked Barclays before if you can pay to get the cheque cleared faster and they told me no, that was a couple of mths ago,
Proud to be dealing with my debts
DFW Nerd #377

Debt at Highest (03/06) - 12,332.92
Debt as of 30/03/2007 - 7,752.71

Claiming Bank Charges
A & L (Account 1) - 1603.00 + 288.70 int = 1,891.70
A & L (Account 2) - 699.04 + 81.51 int = 780.39 - Been offered 440.00(accepting due to current situation with reclaiming bank charges)
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# 14
KME91
Old 25-05-2007, 1:34 PM
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when you bank it, make sure you go through the cashier, rather than the quick deposit system, as often cheques deposited this way don't get picked up until the end of the day, and go into the next day's business.
current debt as at 10/01/11- 1250
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