Barclays Bank current account cheque clearing

mark87652

Do Barclays Bank allow access to a cheque immediately as soon as it has been paid in - either to withdraw some of it or clear an overdraft.

I know for a fact LloydsTSb do this but do Barclays?

teeni

with some accounts they do not sure if it applies to all,

Andy_Ches

You can draw up to £1000 against uncleared funds depending on your account type and status.

What type of account do you hold?

jonesMUFCforever

mark87652 wrote: »

Do Barclays Bank allow access to a cheque immediately as soon as it has been paid in - either to withdraw some of it or clear an overdraft.

I know for a fact LloydsTSb do this but do Barclays?

What do you base this information on regarding LTSB cheques?
They use 2-4-6 as do most banks.
You can withdraw against a LTSB personal cheque if you bank another LTSB cheque but otherwise you get interest on the cheque from day 2.

mark87652

Andy_Ches wrote: »

You can draw up to £1000 against uncleared funds depending on your account type and status.

What type of account do you hold?

Thanks for that, it's not my account so don't know exactly.

mark87652

jonesMUFCforever wrote: »

What do you base this information on regarding LTSB cheques?
They use 2-4-6 as do most banks.
You can withdraw against a LTSB personal cheque if you bank another LTSB cheque but otherwise you get interest on the cheque from day 2.

Well that was what I thought, and a Google search seemed to support it

HIGH Street banks are under pressure to pay interest on cheques as soon as they are paid in after one of them became the first to scrap the so called 'clearance delay'.

Lloyds TSB announced the move yesterday in response to complaints from customers that they are cheated by the delays in clearing cheques.

Most banks take three to four days to clear a cheque, during which customers lose any interest that might have accrued on the money.

The regime also means that Lloyds TSB customers will be able to draw against the value of deposited cheques immediately - up to [pounds sterling]1,000 a day.

but then again I found another site which said it's just the interest you get - and you can't draw on the cheque

mark87652

Andy_Ches wrote: »

You can draw up to £1000 against uncleared funds depending on your account type and status.

What type of account do you hold?

Sorry slight delay, as its not my account.

It's I am told a 'Interest Option Account'

Extant

It's dependent more on your refer stream - an internal way of identifying your account - than by the type of account you have. There's no way to know without asking.

mark87652

BarclaysManager wrote: »

It's dependent more on your refer stream - an internal way of identifying your account - than by the type of account you have. There's no way to know without asking.

Ok thanks for that. Seems a bit of an odd way of doing it, but there you go.

Extant

mark87652 wrote: »

Ok thanks for that. Seems a bit of an odd way of doing it, but there you go.

Not really - there's a wide range of customers who might hold a particular kind of account, such as Additions Active, for example. Some of them are going to be less credit worthy, and we're less likely to want to cash against uncleared effects for them.

So we need someway to distinguish between these customers.

naijapower

BarclaysManager wrote: »

It's dependent more on your refer stream - an internal way of identifying your account - than by the type of account you have. There's no way to know without asking.

But apart from asking, is there any indication on your balance or online statement that you can withdraw this money.
My point is, i pay chq of of at least £500 every wk into my account. Never been told i can draw immediately; Never asked as well; Never seen any indication that i can draw it asap