Cheque Cleared - And Then Not ?

p1nkk1tten

And i've just realised this is an old post... =D

zppp

:DI had already, which is why I quoted the newbie on their post

rb10

p1nkk1tten wrote: »

At fd, our scripting is.. 'A cheque takes 3 working days to go through the clearing system, on the 4th working day the funds will be available however a cheque can be returned up to the 8th working day, so if you do choose to use the funds, you do so at your own risk..'

But that's incorrect ... cheques can only be returned up to the end of the sixth working day.

opinions4u

p1nkk1tten wrote: »

At fd, our scripting is.. 'A cheque takes 3 working days to go through the clearing system, on the 4th working day the funds will be available however a cheque can be returned up to the 8th working day, so if you do choose to use the funds, you do so at your own risk..'

I thought First Direct prided themselves on not having scripts!

dunstonh

dantheman1 wrote: »

I have had exactly this happen to me too. I advertised a high value item and the buyer (it now seems) paid in a stolen cheque. NatWest cleared this in three days and I moved the money out into another account. He picked up the goods and has now vanished. The cheque was rejected the next day and all the bank say is that I should have waited five or six days. If that is the case how come the money was made available to me before the final clearance was confirmed. I complained to the ombudsman but he voted in support of the bank!! The account had a £900 overdraught limit but they allowed the ovedrawn value well over this. Absolutely speechless!!

I'm afraid you made too many assumptions on the clearing cycle. There is no wrong doing here. You just assumed that the system allowing you to draw against them meant the cheque was cleared. That is not the case and never has been the case.

rb10

opinions4u wrote: »

I thought First Direct prided themselves on not having scripts!

... and on getting things right!

NFH

You should never accept payment by cheque from somebody you don't know. They can pay a forged cheque into your account that's on a real bank account. The cheque clears into your account and is debited from the bank account on which the cheque is drawn. The account holder of the drawing bank account (usually a large company) then notices on a statement many weeks or months later that a fraudulent payment has gone out of their account and notifies their bank. The cheque deposit into your account is then reversed and the other victim's bank account is refunded. I don't believe there's any time limit on this, so it's best to avoid cheques in the first place. A genuine buyer would use FPS or BACS or deposit cash into your account. Cheques are unnecessary.

p1nkk1tten

opinions4u wrote: »

I thought First Direct prided themselves on not having scripts!

That is so, most of the conversations are just normal 'chats' so to speak, however there's certain bits of information we have to give in a certain way to make it understandable and clear.. therefore some things have certain phrasing yes, like with any company.

p1nkk1tten

opinions4u wrote: »

I thought First Direct prided themselves on not having scripts!

It's the end of the 7th working day.. so UP TO the 8th working day, i.e. if its in your account still on the morning of the 8th working day, it's yours... and working day number 1 is the day it appears in your account..