Abbey cheque clearance timescales

scouselad1974

BarclaysManager wrote: »

Simple solution?

Stop using cheques! Then you can have it within three days!

For bonus points, stop using Abbey, and then you can have it same day through Faster Payments.

I don't mind waiting the extra day as long as my business banking stays free forever, as soon as charges are introduced I'm off

suze13

I would stop using cheques, but I am self employed and for most of the people I work for, it is the only way they can pay me. But thanks for all the responses :T

jonesMUFCforever

suze13 wrote: »

:mad: I thought in todays technological era banks were supposed to be clearing cheques quicker than in the past. Has anyone got a really stinky letter I can send to the Abbey who today sent out notification that cheques will take an extra day to clear. It will now be 4 working days if paid over the counter and FIVE days if paid in through their machines. Its all very well being paid interest quicker, but I need access to the cash. Help

In today's technological era there are many different ways to accept payment other than cheque which is an antiquated way of doing business.

suze13

Some customers do pay by bank transfer etc, but a number of customers are more elderly - no computer...

agsnu

suze13 wrote: »

Some customers do pay by bank transfer etc, but a number of customers are more elderly - no computer...

But they probably have a telephone, so there's nothing stopping them making a transfer using phone banking...

Of course, whether they want to or not is a different question. But cheques really do require a lot of hassle for the bank (shipping bits of paper around etc) and I don't really think that waiting 4 days is excessive given the amount of processing that they have to go through.

You can't blame Abbey for the fact that your customers are old-fashioned

withnell

BarclaysManager wrote: »

Simple solution?

Stop using cheques! Then you can have it within three days!

For bonus points, stop using Abbey, and then you can have it same day through Faster Payments.

You can pay faster payments in to Abbey current accounts now, so that argument is no longer valid!

Extant

withnell wrote: »

You can pay faster payments in to Abbey current accounts now, so that argument is no longer valid!

Point still stands considering their worse-than-the-rest customer service record.

simon_templar_2

Their share price is much higher than yours.

Extant

simon_templar wrote: »

Their share price is much higher than yours.

And? Contrast number of shares issued. Share price means virtually nothing.

It's also a nice red herring, as share price isn't remotely connected to my point.

scouselad1974

While on the subject of Abbey, does anybody know about clearance from faster payments into an Abbey aaccount ? once the faster payment shows on your account can it be used straight away, or do you have to wait a couple of days like you do with a cash machine deposit ?
Thanks