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NatWest - When is Cash, Cash?
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mrmews
Posts: 5 Forumite
Hi,
Yesterday I deposited £700 at the Brixton branch of NatWest. The deposit consisted of £500 cash and £200 cheques.
When I came to use my debit card in the afternoon I had insufficiant funds and when I checked my online banking I found the deposit was not showing. This is strange as every previous deposit of cash and cheques has always appeared the same day allowing me to draw on the cash part.
The bank tells me it is company policy that when you deposit cash with cheques the cash does not appear on you account until the next day, but if you deposit cash alone it will show up straight away.
So why has this never happened before, I have check my paying in books against my statements back to 2003 and in all cases the cash/cheque deposit has shown the same day.
Either the bank manager is telling fibs or the cashier just could not be bothered to enter the transaction into the computer and they are trying to cover their backs.
Has anyone else had this problem and if so what was the outcome, as I have taken my complaint further as the bank manager is a robot.
Regards
MrMews
Yesterday I deposited £700 at the Brixton branch of NatWest. The deposit consisted of £500 cash and £200 cheques.
When I came to use my debit card in the afternoon I had insufficiant funds and when I checked my online banking I found the deposit was not showing. This is strange as every previous deposit of cash and cheques has always appeared the same day allowing me to draw on the cash part.
The bank tells me it is company policy that when you deposit cash with cheques the cash does not appear on you account until the next day, but if you deposit cash alone it will show up straight away.
So why has this never happened before, I have check my paying in books against my statements back to 2003 and in all cases the cash/cheque deposit has shown the same day.
Either the bank manager is telling fibs or the cashier just could not be bothered to enter the transaction into the computer and they are trying to cover their backs.
Has anyone else had this problem and if so what was the outcome, as I have taken my complaint further as the bank manager is a robot.
Regards
MrMews
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Comments
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I can't comment on Natwest, but I can explain how it works at Barclays.
When you pay in cash, it is posted to your account straight away by the cashier. When you pay in cheques, they are placed in a tray with the paying in slip and posted to the account later that day via a different machine (which sorts and reads all the cheques). If you pay in a mixture, then it's the latter machine which credits your account.
I used to warn customers of this and ask if they wanted to split the deposit. Very few did though.Amazon sellers club - member number 63.
January challange - sell 10 items. 0 down, 10 to go!0 -
Thanks AndyR for you prompt reply.
I understand that cheques are processed later, but in the past I have never had the cash not posted the same day. Normally the cashiers swipe the paying in slip and them enter the cash and cheque amounts seperatly before handing back the paying in book.
At lease you ask customers if they want to split the deposit, I have never been asked this and it appears it is normally done as standard.
I have had running ins with this particular cashier before and I just dont think she could be bothered.
Regards
MrMews0 -
yep same thing happened with me and hsbc apparently if you pay in the cash on a different paying in slip without the cheque it will clear straight away.
If you pay cash in with cheque it wont show unitl the cheque does
wierd if you ask me
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Proud to be dealing with our debts:T0 -
I've actually had this recently with Natwest, deposited £200 cash only at 10am, didn't show on my account until the next day, my husband couldn't withdraw the cash he needed and this was the only reason why it was brought to our attention.
Natwest just shrugged their shoulders and said 'oh well' when questioned.£2 Coin Savers Club (Christmas)- £86£1 Jar (Christmas)- £29Christmas Vouchers Saved: £1450 -
I had this problem with Natwest, as I tend to always check an hour later online the payment is showing. Sometimes it's not been there till the next day!0
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If you pay in cheques and cash on the same slip they are processed overnight. So they will show on day 2 that you paid them in on day 1.
Cash and cheques paid in on the same slip would never have appeared on the same day as Natwest teller machines have never had the facility to do this.
Hope this helps.0 -
amandathepanda wrote:If you pay in cheques and cash on the same slip they are processed overnight. So they will show on day 2 that you paid them in on day 1.
Cash and cheques paid in on the same slip would never have appeared on the same day as Natwest teller machines have never had the facility to do this.
Hope this helps.
I have to disagree with you on this matter as I have statements and paying in slips which prove NatWest teller machines can do it, last time was one month ago.
MrMews0 -
mrmews wrote:Hi amandathepanda
I have to disagree with you on this matter as I have statements and paying in slips which prove NatWest teller machines can do it, last time was one month ago.
MrMews
I will try and make this clearer for you.
If you pay in a mixed credit on a Monday ie cash and cheques, and then got a balance straight away it would not show as it has to go off to be processed.
If you got a statement on the Tuesday, it would show that the items were paid in on the Monday, the cash would be available to withdraw on the Tuesday but not the cheque part of the credit.
The only way that the cash will show straight away is if you pay them in on separate credits. I work as a cashier for NatWest.
Hope this helps and I have explained it well enough, sometimes I get lost in the complicated world of banking !!0 -
amandathepanda wrote:Yes statements and paying in slips will show that you paid them in on the day that you said you did.
I will try and make this clearer for you.
If you pay in a mixed credit on a Monday ie cash and cheques, and then got a balance straight away it would not show as it has to go off to be processed.
If you got a statement on the Tuesday, it would show that the items were paid in on the Monday, the cash would be available to withdraw on the Tuesday but not the cheque part of the credit.
The only way that the cash will show straight away is if you pay them in on separate credits. I work as a cashier for NatWest.
Hope this helps and I have explained it well enough, sometimes I get lost in the complicated world of banking !!
You may be a Natwest cashier, but let me explain.
I go to the bank with cash and cheques. Normally the cashier swipes the deposit slip through the reader and then enters the cash amount then the cheque amount into the computer. Within the hour the deposit shows on my online banking and I can use the cash amount to pay bills and use my debit card.
This time I beleive the cashier was lazy and didn't do her job properly as she didnt even swipe the deposit slip.0 -
If you pay in cash on its own then it would appear straight away on your online banking maybe this is what you have done in the past. If you pay in cheques and cash on the same slip it is an absolute impossibility for it to show straight away. Trust me no one is lying to you here, what the bank manager told you is correct.0
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