Bank Cheque processing error - Can I claim losses against the bank.

mark101

Someone has been negligent and put my cheque in for processing the next day and not on the same day. I.e. I gave the cheque over the counter on the Monday and they put it intothe system on the Tue as shown by my online statement. I have the cheque receipt transaction for the Monday.

They say that the monies will not be available until the Tuesday, having spoken to a manager they cannot advance or help in the matter.

The issue I have is that I need to make a chaps payment for a very large amount and now I will incur fines because the amount is not equal to what was agreed. Chaps was to go out on the Monday.

Where do I stand..? I’m going to use the legals on my insurance to pursue the matter as the fine will translate into 1000’s.

stclair

What time was the cheque paid into the account?

Banks have cut off times for processing of payments, so if the cheque was paid in after 3.30pm it may not get processed until the next working day.

mark101

10:00 Monday morning.

strawberrylane

A cheque paid into a current account on Tuesday will be available for withdrawal the following Monday assuming no bank holidays inbetween.

mark101

If thats the case then I'll be okay (hopefully). However they said Tuesday!

But if the cheque was "cashed" Monday 10am, shouldn't the funds be available on the Friday & show up on the transaction list as Monday & not Tuesday?

jonesMUFCforever

How, where did you pay in?
Was it over a bank counter post office or an IDM machine?

opinions4u

Remember that a cheque can bounce at any time up to 6 working days after deposit.

So while it is available for withdrawal after 4, if you CHAPS the funds elsewhere and it then bounces you will find yourself with a large debt.