Natwest & Cheque Clearing?

johnsons_baby

Hello all,

Hope you are OK.

Just a quick questions, I bank with Natwest and have their current account.

I paid in a cheque for £2800 today from my Credit Union who bank with Co-Op, I asked when the fund would be cleared and the cashier told me 10 working days but funds available after 6 working days, is this right?

Seems a long time to me especially since the new payments system has been in place.

Jo

rb10

If it is a full current account (and not a savings account) then it will have cleared (i.e. it won't bounce from this date) at the end of the sixth working day after you pay it in, and they will make it available for you to withdraw no later than four working days after you pay it in (although some banks will let you draw on the money sooner than this).

The day that you pay it in is called 'Day 0', so it will be available to withdraw by Friday, and it will clear at the end of the day next Tuesday (26th).

It sounds like the cashier was getting confused between days and working days.

jonesMUFCforever

I agree 2 -4 -6 pay in Monday availabl to withdraw on Friday cleared totally by next Tuesday.

johnsons_baby

That's great folks, buying a car next Wednesday so I had hoped by putting it in the bank today it would be cleared by then and was quite alarmed that it might not be.