Is It Possible ?

Weymouth_Man

I have recently changed my total direct debits and monthly transfers over from my bank over to Nationwide B/S, is it possible for a cheque dated the 30th March to be cleared the same day.

The bank from which it was transferred shows a transfer date of the 3rd April, am I missing something here when an account is credited B4 the money is shown to be taken out my bank.

Can anybody put my mind at rest as how this can be done, as this transfer to Nationwide's new interest rate started on the 1st of April, have I got this completely wrong or have Nationwide done the crafty by clearing this cheque the same day it was taken in to the local branch, so the money transferred does not count against the first month of this very good interest rate.

Any feed back will be greatly appreciated and the rights & wrong’s connected with this example.

Mikeyorks

Weymouth_Man wrote:

is it possible for a cheque dated the 30th March to be cleared the same day The bank from which it was transferred shows a transfer date of the 3rd April, am I missing something here when an account is credited B4 the money is shown to be taken out my bank

It isn't possible (if I've understood correctly that you funded the BS {in their Branch} with a cheque from your Bank) - for a cheque to clear the same day. Are you sure the date on the BS account is the cleared date?

When I pay into my BS - the date I pay in the cheque is shown on the account. But the clearance date is shown in brackets - and is several days later!

Weymouth_Man

Mikeyorks thanks for your reply, I will have to investigate further, strange but true.