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Barclays Online Banking & Cheques??

J-Dawg_2
Posts: 1 Newbie
I paid in a cheque on monday and I wasn't expecting it to clear until the end of the week however on my online banking statement it appears in my account....does this mean the money is there or not??
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I paid in a cheque on monday and I wasn't expecting it to clear until the end of the week however on my online banking statement it appears in my account....does this mean the money is there or not??
Barclays online banking is good in this respect. It uses the term, "Current Cleared Balance."
If that is the case with regard to your cheque, J-Dawg, it has cleared.
As an aside, I believe Barclays actually stipulate somewhere that they clear cheques quicker than most, or some such like.0 -
Barclays online banking is good in this respect. It uses the term, "Current Cleared Balance."
If that is the case with regard to your cheque, J-Dawg, it has cleared.
As an aside, I believe Barclays actually stipulate somewhere that they clear cheques quicker than most, or some such like.
No, we don't. We follow the same 2-4-6 as everyone else, even for our own cheques.
The only exception is a house cheque, a cheque drawn on the same sort code as the one it is deposited to - i.e. a 20-00-00 cheque paid into a 20-00-00 branch.What would William Shatner do?0 -
This is what I was referring to:
http://management.silicon.com/itdirector/0,39024673,11003926,00.htm
That looks to me like some such like.0 -
This is what I was referring to:
http://management.silicon.com/itdirector/0,39024673,11003926,00.htm
That looks to me like some such like.
Blimey, 1998! Anyway, this refers to the "AUL" - Account Uncleared Limit - an internal part of the Barclays system that allows some customers, not all, to draw on uncleared cheques. Pretty much common place now, I believe.
The cheque still takes the same time to clear, but it just means you'll be left in the red if the cheque is returned unpaid.What would William Shatner do?0 -
BarclaysManager wrote: »No, we don't. We follow the same 2-4-6 as everyone else, even for our own cheques.
The only exception is a house cheque, a cheque drawn on the same sort code as the one it is deposited to - i.e. a 20-00-00 cheque paid into a 20-00-00 branch.
Hi BM - good luck in your new post, sure you'll love the challenge
Can you please elaborate what 2-4-6 is as I don't follow..... I know its a clearing cycle but could you please explain to us thikko's lol
cheersSome say he is a racist, others say he is a liar but the truth will always prevail...
Milford has left the house & aint coming back!0 -
milfordmadness wrote: »Hi BM - good luck in your new post, sure you'll love the challenge
Can you please elaborate what 2-4-6 is as I don't follow..... I know its a clearing cycle but could you please explain to us thikko's lol
cheers
Day 0 - this is when you deposit your cheque.
Day 2 - you start to receive interest on the money.
Day 4 - you can draw on the cheque.
Day 6 - the cheque is cleared for fate, and cannot be returned (excluding cases of fraud or where you agree to the cheque being returned).
These are "no later than" conditions, though - so some banks may pay interest from day 0, some might let you draw on day 3, etc.What would William Shatner do?0 -
BarclaysManager wrote: »The cheque still takes the same time to clear, but it just means you'll be left in the red if the cheque is returned unpaid.
That presupposes there is nothing else in the account.
Your knowledge, even on what is alleged to be your specialist subject, leaves something to be desired.0 -
That presupposes there is nothing else in the account.
Your knowledge, even on what is alleged to be your specialist subject, leaves something to be desired.
Except that if you had other funds, any drawings would be allocated to that balance rather than drawing on the cheque.
Nice try at being inflammatory though.What would William Shatner do?0 -
Your knowledge, even on what is alleged to be your specialist subject, leaves something to be desired.
A little harsh to probably one of the most respected and liked members within the forum! Ahhh, notice you're a newbie (part-time-poster)That explains your lack of respect to someone that helps people no end time and time again!
I am sure I speak for several on here!BarclaysManager wrote: »Day 0 - this is when you deposit your cheque.
Day 2 - you start to receive interest on the money.
Day 4 - you can draw on the cheque.
Day 6 - the cheque is cleared for fate, and cannot be returned (excluding cases of fraud or where you agree to the cheque being returned).
These are "no later than" conditions, though - so some banks may pay interest from day 0, some might let you draw on day 3, etc.
Thanks BM - crystal clear now.Some say he is a racist, others say he is a liar but the truth will always prevail...
Milford has left the house & aint coming back!0 -
BarclaysManager wrote: »Except that if you had other funds, any drawings would be allocated to that balance rather than drawing on the cheque.
The above statement seems to be an effective point in our discussion. :T
I am, however, still thinking about it.0
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