Paying RBS Cheque Into Natwest.

jambosans

FirstTimer4Me wrote: »

if i paid it into my bank a/c on tuesday when would the check be cleard to be able to draw on it?

NatWest like all banks follow the 2-4-6 cheque clearing cycle.

• Day 0: you deposit the cheque into your account (before close of business) on Tuesday.
• Day 2: you earn interest from Thursday.
• Day 4*: funds are available to withdraw from Monday.
• Day 6: the cheque is cleared and funds cannot be withdraw unless due to fraud from Wednesday.

*Most banks allow you to withdraw earlier than the 4th working day. Someone a bit more clued up with NatWest can clarify, but I believe current account holders can withdraw on the 3rd working day (Friday) or even as early as the 2nd working day (Thursday)? Not entirely sure.

Why not call NatWest and ask?

chambta

jambosans wrote: »

NatWest like all banks follow the 2-4-6 cheque clearing cycle.

• Day 0: you deposit the cheque into your account (before close of business) on Tuesday.
• Day 2: you earn interest from Thursday.
• Day 4*: funds are available to withdraw from Monday.
• Day 6: the cheque is cleared and funds cannot be withdraw unless due to fraud from Wednesday.

*Most banks allow you to withdraw earlier than the 4th working day. Someone a bit more clued up with NatWest can clarify, but I believe current account holders can withdraw on the 3rd working day (Friday) or even as early as the 2nd working day (Thursday)? Not entirely sure.

Why not call NatWest and ask?

It would likely be the second day assuming the cheque isn't an unusually large amount and the account well conducted.

cottager

Yes, I can pay a cheque into my Natwest account on Tuesday, and draw on it on Thursday. Which doesn't mean to say it could not still be reversed before the end of the 2-4-6 cycle.

mclaren32

cottager wrote: »

Yes, I can pay a cheque into my Natwest account on Tuesday, and draw on it on Thursday. Which doesn't mean to say it could not still be reversed before the end of the 2-4-6 cycle.

There can be a deferment placed on cheques being paid in so funds arent always available on T+2.

FirstTimer4Me

thanks for the replies

jambosans wrote: »

Why not call NatWest and ask?

never thought of that but i'll call them tomorrow