What is the quickest way to get a cheque cleared

facingthefuture

I am with the Bank of I and the A and L and both take 4/5 working days to clear a cheque - though when I pay from one to the other the money leaves my account the very next day:mad:
So a company I do some work for pays by cheque but I end up getting hit by fees before the money goes through - what about the post office - do they do it quicker?

seatzie

until all the banks standardise with the new faster payment system and speed up cheque payments I believe you are stuck, ask the company to pay you by BACS through online banking then it goes straight in after 2 days

liam8282

Most banks, including building societies, the post office, have the same 3 - 5 workings days for transactions such as standing orders, cheques etc.

liam8282

I am not sure about this, but if you are with the same bank as the bank from which the cheque was issued, they go through the same day?

As I say I am not sure, this may just be for personal accounts.

But say if the company paid you with a cheque from H S B C, you could set up an account with H S B C and it should go through the same day.

Pretani

If the value of the cheque isn't that large and its not account payee, your local shop, petrol station, etc, should cash it for you.

mmcourt

Hi Ya if the cheque is made out to yourself you can take it to the bank and branch it is drawn on along with i.d and get it cashed straight away.

seatzie

if the cheque is crossed in any way it must be paid into an account, you would need to get the company to scribble out and initial the preprinted crossing on most cheque books these days its the only way banks will pay over the counter

a lot of shops garages etc won't accept cheques nowadays so I can't see many cashing it for you

not all Banks systems are advanced enough to allow same day transfers if you're with the same bank, Ulster will do BOI won't infact if you lodge into a branch not your own with BOI expect to wait up to 3 days to see it appear!