Cheque Cashing Problem

robsangel125

Please could someone help me. My dad gave me a cheque for £5000 for xmas which I took to my bank (Clydesdale Bank) on Friday. As I needed the money for xmas I asked the teller when the cheque would clear & she assured me it would be cleared today (24th Dec). So I deposited the cheque but it has not cleared & I really need the money for xmas presents. The bank has told me that, as it has gone through the system, I cannot have my cheque returned. If I had known this on Friday I would have taken my cheque to The Money Shop & cashed it there. Can anyone help as Im not sure what my rights are concerning this cheque.

YorkshireBoy

robsangel125 wrote: »

...Im not sure what my rights are concerning this cheque.

Your "rights" are detailed in your account T&C's...

http://www.cbonline.co.uk/resources/c1933c804a0c12088dc4dd94ebccc835/132546_CBMTTC1.pdf?CACHEID=08d0e3004a01e9ccbf23bf1c3b4f82ac&CACHEID=08d0e3004a01e9ccbf23bf1c3b4f82ac&CACHEID=08d0e3004a01e9ccbf23bf1c3b4f82ac [condition 6.3(e)]

You can withdraw against the cheque next Monday 29th December.

However, if they operate the same as Yorkshire Bank (and they should do...same company), it may be possible to use the funds from tomorrow, Xmas day (because there are no more banking days between then and Monday). Check your online banking tonight (around midnight), because they'll possibly treat tomorrow as Monday. IMPORTANT: check your "available balance"...not your "balance".


Just out of interest, how much would it have cost you (assuming they'd do a cheque so large in value) to cash the cheque at The Money Shop?

PBA

YorkshireBoy wrote: »

You can withdraw against the cheque next Monday 29th December.

While this is spot on from the link YB provided, it's a day longer than many other banks. If you often receive money by cheque you should move your account.