Lloyds TSB and Natwest

life_in_termoil

Are the two part of the same company?

Ive been paid my wages by cheque and bank with Natwest, the cheque is Lloyds TSB, just wondering how long it would take to clear.

richard9991

life_in_termoil wrote: »

Are the two part of the same company?

Ive been paid my wages by cheque and bank with Natwest, the cheque is Lloyds TSB, just wondering how long it would take to clear.

no thhey are not nat west is part of rbs and lloyds is part of halifax you should be able to draw funds on your cheque on the fourth working day after paying it in

pmduk

Slight correction to richard991's post. Halifax is part of HBOS which in turn is owned by LLoyds Banking Group who own Lloyds TSB. The essence of his post is correct though, they are entirely different companies.

pinkdalek

Would not make much difference if they were under the same group as it would still have to clear. You cannot pay a Lloyds TSB cheque into a Halifax account and expect same day clearance. Some banks will clear their own cheques the same day (subject to amounts and availability).
Best advice is to see if you can get paid direct to your account as majority of payments would go through on the Faster Payment Service which can be available immediately.

NorthernStudent

There have been plenty of instances of fraud by people paying in 'house cheques' (cheques drawn on an account held at the same branch as the account it was paid into). Those cheques used to, on the whole, clear same day, which left not long to spot and stop frauds. So now it takes, generally speaking, at least 3 working days to clear a house cheque and 5 working days for every other cheque to clear - even bank drafts and hmrc cheques!