Cheque question - please read

7sefton

I paid a substantial cheque into my NatWest bank account recently, and they tell me it will be available for withdrawal on Wednesday. My question is, could I open a savings account with Santander on Tuesday with a cheque from NatWest... i.e. even though the funds aren't available to withdraw until the following day? Presumably it will take Santander a few days to bank the cheque, by which time all will be cleared in NatWest.

opinions4u

Your plan will work.

Whether or not Santander will administer your savings account effectively is another question .

stclair

Its not something I would encourage. However yes it is possible.

mum2one

From personal experience, just would be careful, going back when I banked a nice chq (8k) into my main account, according to the chq book, pay in mon chq clear friday, went to pay for a holiday, debit card wouldn't work, wrote a chq instead, thought it was that was paying 1.5k for holiday. Turned out to be the 8k cheque as been flagged up as abnormal amount in my account, and therefore took till the following Tuesday to clear.....
If you could hold off be safer to. x