cheque from lloyds paid into a lloyds account

silentscream999

does anyone know if someone pays me with a lloyds cheque and i pay it into my lloyds account, will it clear same day ? will the money be available same day ?

or do i have to wait the usual 4 days ?

thanks in advance

silentscream999

same question for any other banks. IE if halifax cheque is paid into halifax account how long does it take for money to be available and for it to have cleared ??

Cranston_2

The UK banks mostly now work on the 2-4-6 system. Do a google search of you want more details.

If you use the word "clear" to mean it is confirmed that the cheque will not bounce then you have to wait until the end of the 6th working day.

Some banks allow you to withdraw money on the 3 or 4 working day but you run the risk that the cheque you paid in will bounce.

TheEffect

Any Lloyds TSB Personal Cheque paid into a Lloyds TSB Personal Account will clear the same day. If it's a Lloyds TSB Business Cheque (From a Business Account), it will take the usual 4/5 days to clear.

silentscream999

TheEffect wrote: »

Any Lloyds TSB Personal Cheque paid into a Lloyds TSB Personal Account will clear the same day. If it's a Lloyds TSB Business Cheque (From a Business Account), it will take the usual 4/5 days to clear.

thanks, thats great to know.

lloyds are popular so i will recieve their cheques. so if they clear same day it can be useful

buts its strange that lloyds business cheques take longer

cifpower

I have a Halifax account and recently paid in a cheque from someone else's Halifax account and was told it goes through "as cash" in that it clears instantly.

jonesMUFCforever

silentscream999 wrote: »

thanks, thats great to know.

lloyds are popular so i will recieve their cheques. so if they clear same day it can be useful

buts its strange that lloyds business cheques take longer

Personal accounts are run on an online realtime system - Business accounts with overnight updates.

Milarky

Same with HSBC - they can 'cash' a cheque provided you present I.D. They can pay the virtual 'cash' into an account thereafter for you.

Mikeyorks

cifpower wrote: »

I have a Halifax account and recently paid in a cheque from someone else's Halifax account and was told it goes through "as cash" in that it clears instantly.

It only works that way if the cheque is drawn on the same Branch as that where your account is nominally held. Otherwise Halifax cheques paid into a Halifax account take the standard clearance time.

I was of the impression most Banks work that way (other than the few who offer you same day facilities on input cheques) - the drawer Branch has to be the same as the payee Branch.