LLOYDS sneaky re cheque clearing

[Deleted User]

I am a long-time customer of lloyds bank, have never been overdrawn and regularly pay cheques into the account. This week I deposited a cheque for just over £5000 on monday 2nd oct and today 6th it still hasn`t cleared. The cheque was from my post office account and there is no problem with it. I am spitting here because it is day 5 and the bank updates over midnight so it will be 6 working days before it is officially cleared. They have sneakily added an extra day

They cannot get charges from me so they have tried another way.

I am going to write a letter of complaint

Jamz

What time was your deposit made on monday, if I remember rightly if after 12 or 1pm then that day i.e. monday doesn't count as a working day

[Deleted User]

It was put in the deposit box on sunday 1st so the 2nd will count as a working day. It was in my account online on the 2nd

chesky369

If it shows on your account on-line, I don't see the problem - I'm almost sure Lloyds TSB calculate interest from a cheque's deposit now, instead of waiting for it to clear.

[Deleted User]

I don`t care about the paltry interest chesky. It is the fact that I cannot get access to my money. Anyway letter of complaint sent

pfpf

kittie wrote:

I don`t care about the paltry interest chesky.

easy now Tiger!! :rolleyes:

steady__eddie

chesky369 wrote:

If it shows on your account on-line, I don't see the problem - I'm almost sure Lloyds TSB calculate interest from a cheque's deposit now, instead of waiting for it to clear.

I think that they only pay interest straightaway, on cheques up to the value of £500/month (that's 500 quids worth of cheques, not interest by the way).
I see that they have (or are about to) remove the 10 quid buffer zone on their Classic a/c. I reckon that they must be feeling the pinch now that they can only charge 12 quid for their letter writing service and I think that it's extremely charitable of you kittie to help them out with a few quid for a couple of days.

richardmk

If you pay in a Scottish or NI cheque it will take longer to clear..
sort codes 80 and 90.

jonesMUFCforever

To the original poster
Have you got a personal or business account?
If it's personal then a cheque paid in on monday becomes available to you to withdraw (please note I did not say cleared) on the friday morning unless as richardmk says it was drawn on a scottish bank - they take a working day longer to clear.
If you have a business account then acounts are updated overnight so a normal cheque will be available tomorrow (if you have a Saturday morning branch near you)or Monday if it was a scottish cheque.

AndyR_3

Maybe it was human error - they could have forgotten to empty the deposit box until late on Monday?

jonesMUFCforever

AndyR wrote:

Maybe it was human error - they could have forgotten to empty the deposit box until late on Monday?

It makes no odds at all as work is all done same day regardless of time of opening deposit box.
If they had 'forgotten' to open the box then the credit would have shown on Tuesday not Monday.
OP has not been back here to say whether she holds a Personal or Business account - perhaps she's too busy spending her money!