Abbey - extended cheque clearance?

gwenspugs

Anyone else having problems with Abbey over cheque clearing? Twice recently I have attempted to withdraw funds after the normal clearing period to find out that the cheques had been subject to an extended clearance period - no prior notification, in fact in the first instance I had specifically asked for confirmaiton of the date it would be clear, and was given the usual 5 working days, to find it was actually almost 10 days! To make matters worse, the cheque I paid on on 11th March was actually debited form my account on the 12th, instead of credited (excuse from Abbey - system error!) and it took me 4 days and hours of time to get it corrected, all over the weekend I was in the interesting position of having a savings account which was overdrawn, according to"the system".

vosblod

I don't often read the changes leaflets that come from Abbey but just happened to notice, effective 1/7/09, they are extending the time taken to clear cheques by one day to 5 working days
Apparently it's to 'bring us in line with industry standards' ???
In this computerised day and age it's totally unbelievable...

agsnu

I'm confused - are you saying Abbey don't follow 2-4-6, because that's hard to believe.

In this computerised day and age it's totally unbelievable that people still pay anything by cheque...

naijapower

They follow this rule but i have noticed there are usually exceptions to this. Dont know the rational but they seem to pick out chqs at random and extend the clearing cycles.
Either they dont have the funds to pay out or they want to be double sure. However i must say the frequency has been high recently

dc110

Unlikely it is random

Was it a particularly large value? Or unusual for your account?

naijapower

Well, it depands. The account is for a relative. Her wages of 1200 go in monthly and account is quite active. Chq was for 3k.

dc110

Hmm ok.

Cant think of any other reason. Been a while since i worked for a bank, maybe they do check much more 'random' than they used to and she has been unlucky if its multiple times in short period.

Extant

vosblod wrote: »

In this computerised day and age it's totally unbelievable...

No, it's not.

You're relying on an antiquated payment form which has died out, or is dying out, in most of Europe.

The fact that we live in such a technologically advanced age doesn't alter the fact that you're still relying on a bit of paper with your signature on it to be passed between banks.

If you want it faster, follow your own point and use a computerized process, not a bit of paper.

bizmod161

Have had big problems with abbey business banking, 4 times i have paid in fairly large cheques and each time the value of that cheque has been subtracted from my available balance 2 days before cheque clearing! The most recent time i paid in a cheque for approx 8k only to find myself over 7k overdrawn once abbey had subtracted value of cheque due to extended clearing. Rang abbey they apologised but said there was nothing they could do problem with system and therefore could not withdraw any money from my account for 3 days. Abbey effectively stole my money. Now in process of changing to a proper bank.

jane271

Having massive problems, paid a large cheque in on Saturday, counted Monday as first day, expected it to be cleared today at latest (normally would have been cleared on Thursday), not cleared, called in told wouldn't be cleared until Monday! I pointed out that the website still states it takes 4 days to clear a cheque. Not impressed at all.

97trophy

jane271 wrote: »

. Not impressed at all.

Move bank.