Charges when was in credit!!

Miss_Piggy_2

Morning all
Am hoping one of you can help!
I paid in a cheque to my bank on Thursday - it was a refund from BT and I am hoping I'm right in assuming it's a guaranteed cheque! My bank then bounced a direct debit yesterday and charged me £38 for the priveledge, even though it showed as being in my account!
Am I right in assuming the BT cheque was a guaranteed one? Do you think my bank will refund these charges? (Natwest)
Thanks
Miss P
xx

soolin

I'm not sure what you mean by a guaranteed cheque? All cheques need to clear through the banking system and asusming it went in early Thusday before the cut off point for clearing then yesterday would only have been the third day and therefore not cleared.

Some banks are different but usually the 2-4-6 rules apply so your cheque would clear for funds on day 4, which is today and would clear against fraud on day 6 which is Thursday. Also for direct debits many banks require the cleared payment to be in the account the night before the DD is due so you were actually 2 days late paying in the cheque if you had wanted it to cover the DD.

http://www.chequeandcredit.co.uk/246/-/page/animation/

Miss_Piggy_2

Thanks. Looks like my error then :doh: Just as my bank account was going to look a bit healthy this month too! :rotfl:

YorkshireBoy

soolin wrote: »

Some banks are different but usually the 2-4-6 rules apply so your cheque would clear for funds on day 4, which is today...

Since last Thursday was 'day 0', today (Tuesday) is only 'day 3' isn't it?