Express cheque cashing

sadken

I have a large cheque just around the corner (£13,750, look out for me between now and Christmas on 'In It To Win It' with Dale Winton where I won the money!).
Can my bank speed up the process of cashing the cheque if I pay a charge?

Many thanks for your help.

mike

Hazzanet

They can special present it, which means you know if it will be paid or not sooner, but you won't get the money itself any sooner I'm afraid.

Not worth the c£10 if you ask me.

Hazza

tweenies

Well done sadken :T :T :T :T

what a great win spend it wisely

xx

sadken

tweenies wrote:

Well done sadken :T :T :T :T

what a great win spend it wisely

xx

thanks a lot
a very lot
my show is on on the 30/12/2006 and my name is Mike!

AndyR_3

Some banks will let you have the funds as soon as they get an answer - which should be the next afternoon from when you pay it in. But other banks make you wait until they have actually recieved the money - i.e. the usual length of time it takes a cheque to clear. Check with the bank.

Toomuchdebt

It's only 3 working days for a cheque to clear in most current accounts anyway-not worth paying extra for getting it a day sooner.

jonesMUFCforever

Have you received the cheque yet?
If not ask if they will 'chaps' the funds to your account where it will be cleared on receipt.
Some tv shows don't issue the cheques until the shows have been broadcast so you will have to contend with new years holiday delays in clearing any cheque.

Well done on your win!!

PBA

Special presentation should not be used to try and speed up the cheque clearance cycle, only when you're unsure whether or not a cheque will be paid. With special presentation the cheque is sent by Royal Mail first class to the drawing bank who then phone up to confirm it will be paid. While this theoretically means the funds should be available the next day, it can be significantly longer if the cheque takes longer in the post. I have seen special presentations take 7 or more days to go through, not what you want if the funds are needed urgently!

Just pay it in as normal, you'll get the money quickly enough.

thirtythreedragons

Totally agree with PBA.

Special presentation should really only be used when you want to make sure you get your money, such as when your selling something to a stranger and you want to know the cheque would not be bouncing.

Under normal banking, a cheque can bounce even after your bank make the funds available to you. So, you may pay in a cheque, and spend the money a week later, then two months afterwards, the cheque bounces (because of fraud , maybe?) and your left to pick up the tab.

The special presentations service gives certainty, not speed.