Best Current Account for Cheque Clearing!

luckystar77

Hi All

Just wondered if anyonen knew of a good bank account that clears cheques quickly.
I have a current account with Barclays and its 5 days. A friend also gets paid by cheque on a monthly basis and her money is always cleared days before mine.
Many thanks in advance

Pats

Hazzanet

http://www.chequeandcredit.co.uk/246/-/page/113/

Cheque should be available after day 4, and absolutely certain after day 6 providing fraud is not involved.

tng11

Not too sure if it's a feasible option but the HSBC Premier bank account has a special cheque cashing privilege:

Instant access to cash – withdrawals of up to £2,000 can be made against cheques paid in before they have cleared (available at branch counters only).

http://www.hsbc.co.uk/1/2/personal/hsbcpremier/premier-experience;jsessionid=0000lnh1h1MNWVHMhAx6RshQ6kr:12c5ccumj

I have used it once when I paid in a £1,000 cheque and took it out immediately.

Paul_Herring

While they don't 'clear' in the sense you can draw on them, Lloyds credit your account on day 0 with the amount for interest purposes. They still tie you to the 2-4-6 cycle for actually drawing on those funds.

Mrs_Ryan

NatWest are pretty quick - usually about 3 days.

jimsweetman

Avoid A and L! They have just done me by extending the holding period over New Year!

wornoutmumoftwo

Rbs - pay it in monday - can withdraw it on wednesday.

selecta_c

wornoutmumoftwo wrote: »

Rbs - pay it in monday - can withdraw it on wednesday.

I'll second that.My OH gives me half the rent,shopping and bills by cheque every month.I pay it into my RBS account and it always clears in 2 days.

Careful_ly

Barclays are the best I know of for paying a cheque into.
You can start using the funds from the cheque upto £1k right away.
http://ask.barclays.co.uk/help/day2day_banking/cheque_clearance

I have used this facility several times, and no charges have ever been made on my account.

HTH

rb10

At Halifax they will always be available after 3 working days (on current accounts, not savings).

johnswife

Paid a cheque into our business account with HSBC yesterday, monday, and i could draw on it on Thursday but if it did bounce obviously account might go overdrawn. they gave me a leaflet with a guide and it will take to NEXT Wednesday, that's 10 days, before it would be definitely cleared with no chance of bouncing.

I can't beieve it, i used to work there 20 years ago and cheques were definitely paid by the 4/5th day and you coud do a special clearance (at a price) which is no longer available. You also could get the bank to ring up the other bank and ask them if the cheque was in order and in their hands would they pay it which was an indicator if there was money to pay it.

What happened to progress?