Moneyshop Cheque processing using Natwest

RichieH1981

Hi I have had some short term cash flow problems over xmas ad new year so decided to cash some cheques till payday at the money shop. Anyway I had the option to extend the loan but forgot so 2 of the 3 £100 cheques were banked before payday when I didn't have the funds to cover either of the amounts.

The cheques did appear on my account on internet banking but one of the cheques is now not shown. I have phoned natwest and been into a branch concerned about this and I've had a few different stories as to what the cheque process is. One person claims that the cheque will of been bounced straight back to the money shop and another said that banks try to honour cheques twice so although they tried to process it they said they try a second time to see if funds appear in the acount. I have just phoned again this morning and now they say they have no record of that cheque number but I know they should have because I saw it on Wednesday morning.

Does anyone know what the process is? Should I go to the money shop today or monday and pay them the money? I could do without either the bank or the money shop sending me letters about this as loved ones tend to worry and stress. Does anyone have any idea what the truth is and whether I should pay the money shop?

jonesMUFCforever

First time a cheque may bounce RDPR meaning the cheque goes round the cheque clearing system again - if no funds are available to pay whe presented again it might be returned RD which means it will be sent back to the moneyshop.
Then they will hound you for the funds plus charges!

RichieH1981

jonesMUFCforever wrote: »

First time a cheque may bounce RDPR meaning the cheque goes round the cheque clearing system again - if no funds are available to pay whe presented again it might be returned RD which means it will be sent back to the moneyshop.
Then they will hound you for the funds plus charges!

Thanks for the answer, there are now funds available so hopefully it will go through in the next couple of days.