10 days for a cheque to clear???

claireac

I've just got off the phone to Santander and I'm flummoxed!!

I paid a cheque in yesterday for £4k. It's money to buy a new car as ours has been written off. I phoned them to check when it would clear and was told Tuesday, or if not the following Friday!! This is, apparently, because it's such a "huge" amount............

Is this right?? If so it's going to cause huge problems for us!

Does anyone know how I can find my branch phone number? I just keep getting a central number.

Lokolo

Cheques take 6 working days to fully process.

Which is a week tomorrow.

The money may show after 3 working days but the cheque can still bounce.

claireac

So it's not going to clear on Tuesday, regardless then??

Lokolo

No cheques clear in 3 days.

Most banks put the money in after 3 days but cheques can still bounce after.

claireac

Oh yes I remember that, thought maybe they'd changed the rules!!

I wish they'd just tell me if it's going to clear or not, due to the amount. I know the funds are available because the cheque is from my Dad, until our settlement arrives. A straight answer from the bank is going to save me a lot of hassle, and money as we're going to have to start paying for the hire car on Monday. So it could effectively save us £60-80 if it clears Tuesday...... Think I need a dark room to scream loudly in ;0)

Lokolo

It will come in on Tuesday more than likely. But if it does bounce after (I know it's your dad and everything, but just for clarification we'll assume its some ebay buyer!) then you can get charges as it would mean the money coming back out, and leaving you in unauthorised overdraft

claireac

Fingers x'd then!!

Much as a love the hire car (a very nippy brand new Fiesta :heartsmil) I really don't want to be paying for it after Tuesday.

Thank you for answers :beer:

Paul_Herring

claireac wrote: »

Oh yes I remember that, thought maybe they'd changed the rules!!

I wish they'd just tell me if it's going to clear or not, due to the amount. I know the funds are available because the cheque is from my Dad, until our settlement arrives. A straight answer from the bank is going to save me a lot of hassle, and money as we're going to have to start paying for the hire car on Monday. So it could effectively save us £60-80 if it clears Tuesday...... Think I need a dark room to scream loudly in ;0)

It may be worth going back to them and ask them about the 2-4-6 changes, and ask (or rather confirm) if the cheque is covered by them (I see no reason why it shouldn't if it's going into a current account.) If so, you should be able to withdraw on it on day 4, which I make to be Tuesday

zppp

Have a look at this link also.

http://www.chequeandcredit.co.uk/files/candc/flash_files/246._updated.swf

Paul_Herring

zppp wrote: »

Have a look at this link also.

http://www.chequeandcredit.co.uk/files/candc/flash_files/246._updated.swf

Hmm. That should have a warning attached to it. Not suitable for slow PCs. It was positively slow on the terminal in the pub I'm in, and I waited over a minute by the time the 3rd slide appeared and decided it'd probably go on for 1/2 an hour on it.

I have no doubt it's positively informative nonetheless

PC_Gabriel_Kent

If they have put a cheque through extended clearance then you will have to wait. There is nothing you or the staff in branch will do. The cheque clearance people will not take calls from customers, in fact any H/O dept is near impossible for staff to get through to. Even if by a miracle they do it wont make a bit of difference. They wont clear the cheque any quicker.