LLOYDS how long to clear cheques?

[Deleted User]

£130 in on 23rd october and showing on the account on that day Today 27 oct it is still not available. I make that 5 working days. The same thing happened with the last cheque. I think that lloyds are sneaking in an extra day for clearing.

I don`t think I am a valued customer anyway because I never go overdrawn and don`t take up any loans etc and I have been transferring all spare money to icesave

I only use lloyds because it is a convenient bank but I now also use egg money and have a smile (main) account. I think lloyds will be losing another customer soon. But they won`t care

s71hj

a cheque paid into lloyds clears on the 4th working day, not including the day you pay it in. In other words, if you pay it in on a thursday, the money is accesible from 1st thing the following wednesday. They do however pay you interest from the moment you pay the cheque in, which is unique (make sure you've got the higher rate of the 2 accounts - classic plus I believe, which pays 4%.)

thecotswolds

Should be available today, unless cheque is drawn on a Bank branch in Scotland which will always be an extra days clearance.

regularsaver1

depends what time you paid cheque in too? was it afternoon?

jonesMUFCforever

regularsaver1 wrote:

depends what time you paid cheque in too? was it afternoon?

Makes no odds at all.
All work between 9 and 5 gets processed that day.

regularsaver1

ah i knew it made no difference in the bank i work at

but thought it could be the case in some banks

so ejones999 why do you think it was not available today?

jonesMUFCforever

Could it be that it is a business account.
They are a day behind account wise (overnight update)whilst private accounts are on a live system.
If it is a private account then it could be drawn on a bank in Scotland which would add an extra day for clearance.

jonesMUFCforever

Or of course the cheque might be in the process of being returned unpaid!

[Deleted User]

no to everything. Small cheques and basic private account and paid in by 10 am. Cleared for use this morning ie 6 days. Absolutely shocking and that is why I keep no more than £70 in lloyds. I deposit any big cheques with smile, a train ride away. They always clear in 2-3 days. Re interest, laughable on the basic account, 0.1%. Smile is 3.04% on the current account but no large amount stays in there either when I can get 5.2% in icesave

Anyway my grumble was about lloyds.

jonesMUFCforever

Why bother with Lloyds at all then if you have a Smile account?

vroomfrondel

ejones999 wrote:

Makes no odds at all.
All work between 9 and 5 gets processed that day.

I know that in Bank of Scotland, before it was taken over by the Halifax, this did make a difference. As far as I am aware at most banks, as opposed to building societies and former building societies, it makes a difference.

Not that this matters as, in all cases, a cheque never actually clears.