Paying in cash with a cheque - its going to take 2 days?!!

HarriettPotter

Has anyone heard of this? I paid in £40 today to keep me within my overdraft limit. At the same time I paid in a cheque. I put them on the same paying in slip thinking it would be easier. Later today I have found out that if you pay in cash on the same slip as a cheque they will take as long to credit the cash as they do the cheque?

What? It seems ludicrous.. I had the cash in my hand but it wont go into the account until Wednesday which means I will get charged £30 for going overdrawn. I only went to the bank to prevent this and what for? Nothing.

I bank with First Direct who are telling me its HSBCs rules and they can't do anything about it? It seems so unfair?

Cara79

Hi there

Unfortunately this is correct. Although never happened to me, I have read it on here. Best to do it on 2 paying in slips.

I would suggest though speaking to them to get the charge refunded because it was the 1st time this has happened, and you had no idea, so sorry etc. Play it on a little bit and apologise and hopefully they will refund it.

Good luck
x

johnmoney05

Yes, it happened to me once. And the bank was Barclays. I paid in about £100 cash and £900 cheque at a local branch. Just wanted to save some paper, so used one paying in slip. When I got home, I loged in my internet banking, I was shocked to find out that my cash was not available with my cheque. I had to get to the branch to deposit some cash in my account the other day! After that, I never do that again.

Mikeyorks

If you're a business that does the majority of its financial transactions remotely from its customer base .... eg DVLA. Then most payments are via BACS / CHAPS / Giro / Cheques etc. But inevitably there is the odd central payment which materialises in cash .... and it's a total pain.

You get small quantities of it - but can't disperse it within the business, have to account for it / secure it and bank it using an accredited cash carrier. In such cases one could argue that cash is not 'liquid funds' until, perversely, it's in the Bank account! Because it's not useable until then.?

But can't for the life of me see how a Bank can plead the same? In the cases above did the cashier not put the cash straight into his / her little drawer - thereby 'clearing' it immediately??

Never heard of this one - have any of the Banks concerned ever produced any T&Cs to support such a lack of logic? Or suggested they will ask their cashiers to warn 'this is how our internal process works' - if you're sensible enough to save on their payment slips?

regularsaver1

paying in slips are old-fashioned in a sense anyhow - not every bank uses paying in slips - would annoy me if i had to fill them in

i agree with mikeyorks - by adding the cash to the till - isn't that effectively cleared straight away

the only time i can understand waiting for cash to clear is when it was deposited through an ATM and had to be checked

student100

Halifax, for all their sins, don't have paying in slips at all (just give the cashier your card or even account number written on a bit of paper) and the cash and/or cheques. Cash is always credited straight away (unless you pay it in at an ATM or quick deposit box thing where in some cases it might be next banking day I think).

Milarky

regularsaver1 wrote:

paying in slips are old-fashioned in a sense anyhow - not every bank uses paying in slips - would annoy me if i had to fill them in

Yes Barclays will accept a personal debit card when paying in cash at their branches. (It credits to the account instantly)

regularsaver1

ahh thats good

i'd think that slips would create longer queues

Bossyboots

abbey also will take a deposit at the counter with the customer's name and account number only.

someone

regularsaver1 wrote:

...

the only time i can understand waiting for cash to clear is when it was deposited through an ATM and had to be checked

If you pay cash in at a Nationwide ATM it counts and checks the notes right away (takes a moment). The cash is then clear funds. Also cheques paid in using Natiowide ATM's are electronicly scanded, printed on you slip and dont take any longer to clear than if you paid it in at the counter.


p.s. the ATM's im on about are the FAST ATM's they have inside most branches.