Barclays- a rant

robpw2

a cheque arrived this morning and i went to pay it into my bank the young lady on the desk tells me this wil be cleared on the 2nd june ..
thats almost a two week wait for my money

Its a cheque from a competiton

Now i know they have a day off on monday but 11-12 days to cash a cheque its taking the michael .. she said when i asked her why it would take so long dont worry youll get intrest on it ..
I have never had intrest before ..

BruceyBonus

Cheques clear on a 2-4-6 cycle.

After 2 working days, you start earning internet (although some banks pay earlier than this).
After 4 working days, you can withdraw on the cheque (providing your bank allows this).
After 6 working days, the cheque has cleared.

The 2nd June is 6 working days, so not that long after all.

rb10

You are presumably paying it into a savings account? In which case, they are just following the standard six-day clearance procedure that any UK bank would follow.

You should, however, earn interest on it from next Thursday.

robpw2

no im paying into my additions active current account

rb10

robpw2 wrote: »

no im paying into my additions active current account

The standard cheque clearance cycle is 2-4-6, as BruceyBonus said. So the bank will make the money available to you after four working days (some banks, like Halifax, do it earlier than this, but 4 is the standard).

Today isn't a working day, so because of the bank holiday it'll go through with day 0 being Tuesday. Then, counting on 4 days, you get to the following Monday.

Most banks will take 4 working days for a cheque to be available, there are just a few that let you have it earlier.

Extant

The above is right, and unfortunately had nothing to do with us. Sorry.