Barclays delaying cheque clearing?

Extant

p1an0player wrote: »

Thanks, but before sending it off, wouldn't you enter it into the system and it would show on the account as uncleared funds?

ShelfStacker wrote: »

At HSBC we wouldn't, not sure about Barclays (I'm presuming they operate a similar system... this is where BarclaysManager should step in and prove me wrong )

ShelfStacker - I am assuming HSBC still uses iPSL? If yes, we have the same system, but our PoD work is done in branches, and then re-processed by iPSL again (dual processing to reduce error levels and returned entries due to incorrect MICR details etc.)

To p1an0player - all work is processed by branches initially, which is where it hits your account. If it's the tiniest of branches (the little ones with two people) it might go to another branch, but it all goes through a branch somewhere. Once it's processed, it will show on your account.

When the cheque is processed, however, depends on the cut off time of that branch. This cut off time should be clearly posted somewhere within the branch. If it is not, then the branch is failing to adhere to the standards of the Banking Code and a complaint should be raised.

That said, the earliest I have ever heard of a branch "flipping" (changing to the next day's date) is 3pm. So if it was paid in before then, it should be there on the same day.

Also, have you checked your receipt? If the branch had changed to the next day, so too would their stamps.

p1an0player wrote: »

I've discovered what's happened now - if you pay a large cheque into a Barclays current account over the counter, it seems that they may call you to invite you to put it into a savings account instead. If they don't manage to speak to you on the same working day they will usually just pay it into the current account.

In my case, the lady was pushing the boundaries and decided it would be OK to hold the cheque for a bit longer before paying it in, in case she could speak to me and persuade me to put the money elsewhere (presumably there is commission/points involved). I'm not impressed.

If this is the case, this is completely unacceptable and a breach of our Sales Standards, which all sellers must sign, agree and adhere to.

Can you provide some more details? That would make it easier to nail down whether you paid in before or after cut off. If you paid in before cut off, I will tell you how to log a complaint, because this is, as said, completely unacceptable.

Extant

p1an0player wrote: »

I've discovered what's happened now - if you pay a large cheque into a Barclays current account over the counter, it seems that they may call you to invite you to put it into a savings account instead. If they don't manage to speak to you on the same working day they will usually just pay it into the current account.

I would also like to highlight that this is not standard Barclays policy or practice.

Also, mind telling me the amount of the cheque?

p1an0player

Thanks for your input

I paid it in over the counter at a large branch after the cut-off on Monday, and it was credited to the account on Wednesday. So one day later than it should have been.

I'm pleased that this is not standard practice! Someone at a different branch said that the idea was that paying a cheque directly into a savings account gets interest more quickly, than if it goes into a current account first. But if the bank can't get through to the customer by telephone it should be credited without delay.