Cheque clearence HSBC - Question!

Corky7

Hi

wondering if anyone can advise..got a cheque to pay into my HSBC on monday from the Inland Revenue (paid to much tax!!) was wondering if they would let me draw on the funds straight away or at least some of it? my a/c is a solo so pretty basic i guess..the cheque is for £300

anyone help?

Baldur

It has usually taken around 4 working days for any cheque paid into my HSBC accounts to show as available funds - i.e pay in on Monday, funds available on Thursday.

I don't know whether an HMRC cheque would be treated any differently.

natweststaffmember

Corky7 wrote: »

Hi

wondering if anyone can advise..got a cheque to pay into my HSBC on monday from the Inland Revenue (paid to much tax!!) was wondering if they would let me draw on the funds straight away or at least some of it? my a/c is a solo so pretty basic i guess..the cheque is for £300

anyone help?

According to the clearing cycle from APACS the cheque is cleared for fate after the 6th working day. In reality most chequs will show as cleared balance before that date.

Andy_Ches

The cheque will show in your available balance and will have cleared on the 4th working day.

i.e. you pay the cheque in on Monday before 3.30pm and it will have cleared on Thursday and available for withdrawal.

You may be able to draw against the cheque, my account is a plus account and it lets me withdraw cash against uncleared funds but usually never more than half of the cheque value.

No cheque is treated differently, not even a bankers draft, they all need to be processed fully through the clearing system. The only cheques that clear straight away are in-house cheques, drawn on the same sorting code as your branch that you are paying in at.