Does anyone clear a cheque in less than 14 years?I

wigwam_salesman

I get paid by cheque. Which is pathetic enough as it is. The fact that I paid a cheque in on Monday and Alliance and Leicester say it won't clear in my current account now until Monday. Basically a full week is so depressing that I want to cry. How on earth in 2007 can it possibly, even if they walked it from branch to branch take that long to cash a !!!!!!! cheque?

Anyway. I have only been with them for one month but I am now dumping them just as quickly. Anyone got any other suggestions? I was with Lloyds but their service has been pretty poor as well.

taffyswife

Have you thought of opening an account at the bank your company uses?

This can sometimes speed up the time it takes to clear a cheque.

tealady

Try asking the company you work for to pay you by bank transfer. If they say no then you haven't lost anything. Check with the companies bank first to see how easy it is, if the company know you have done some of the leg work for them it might help your case.

zobo_3

Clydesdale bank will clear wages cheques immediately! you just tell them at the time its wages. All other cheques take 2 working days!

robnye

this is going to change....... a recent report said that banks shoul dbe making efforts to clear cheques more quickly...... some banks are worse than others..... i bank with A&L and yes they take 7 working days.... which to me is too long, but A&L wont change until the rest of the market changes

Bambywamby

Natwest usually takes 3 working days, however I have known it be two working days.

thesaint

I believe Barclays will let you draw on a cheque the same day. They do have rules to the amount that this applies to though.

sjcjd

I agree with thesaint, I process our companies wages usually via the bacs but on occasion I have paid a few of our subbys by cheque, I have noticed if they also have a barclays account; it clears the same day!

You will know which bank they use by the cheque they give you. Maybe get an account with them or enquire as to why they dont do bacs?

anniecave

alliance and leicester are slower than a clearing bank (hsbc, barclays, lloyds tsb, natwest) as they have to go through the clearing banks to get stuff done. So days are added on either side of whatever you want done to allow time for information to be transmitted. Other non-clearing banks are almost as bad (i think cahoot are worse).
I would take a look at switching to a bank that's the same as your employers.

crackberry

you must have a basic a/c?

---lee---

sjcjd wrote:

I agree with thesaint, I process our companies wages usually via the bacs but on occasion I have paid a few of our subbys by cheque, I have noticed if they also have a barclays account; it clears the same day!

You will know which bank they use by the cheque they give you. Maybe get an account with them or enquire as to why they dont do bacs?

I second that. I was with Barclays and they show cheques on your balance the same day you pay them in and allow you to draw against them. There is a limit on it through but I can't remember what it was - as in the cheque must be under 2k or whatever the limit is. They also pay interest on it from the day it's paid in.