Anyway of being able to tell when a cheque has cleared?

indierocker85

Hi

On my online banking my account balance is around £10.24 more than my available balance. No I have made two purchases today and yesterday one for £2.77 and one for £2.44, but I am waiting on a cheque of £5 clearing and also capital one took a £1 charge to verify my debit card.

How can I tell if the £1 has been credited back to my account or if the £5 cheque has cleared

jonesMUFCforever

2-4-6 for cheque clearance.
At the end of the 6th working day the cheque is cleared.

Olipro

to go into more detail:

interest is paid from day 2, you may also be able to spend the money depending on your type of account.

day 4 and you will be allowed to withdraw it regardless.

day 6 and you are guaranteed the funds won't be reversed unless you were a knowing party to fraud.

jambosans

indierocker85 wrote: »

On my online banking my account balance is around £10.24 more than my available balance. No I have made two purchases today and yesterday one for £2.77 and one for £2.44, but I am waiting on a cheque of £5 clearing and also capital one took a £1 charge to verify my debit card.

Your balance will reflect the value of the uncleared cheque, and not include any pending card payments. Your available/ cleared balance will not include the uncleared cheque, and will include any card payments.

For example (as your numbers aren't correct):-
Balance £5.21 + £5 uncleared cheque = £10.21
Available Balance: £10.21 - (£1 + £2.44 + £2.77 + £5) = -£1* (although would display as £0)

indierocker85 wrote: »

How can I tell if the £1 has been credited back to my account or if the £5 cheque has cleared

So to answer your question, you can tell the £1 Capitol One card authorisation has been removed and the cheque has cleared simply by working out the difference between your balance and available, then subtracting the card payments and cheque from the available. If there's a lesser discrepancy between the two figures then you know something has cleared/ debited or been removed, and the amount will indicate which one (e.g. £5 difference will indicate the cheque has become available).

*I've added the £1 to the subtraction, but from the numbers you've approximated it does indicate the £1 authorisation may have already dropped off.