Last nights balance: Can I dip in yet?

Bridge-Burner

My current balance is teetering on the edge of my overdraft but I put a cheque into my accoutn a couple of days ago and the last night's balance gives what it will be once the cheque has cleared. When I was last in this situation I dipped into it ignoring the current balance and it went over my limit but I still wasn't charged. This was by bachs and would be put recognised on a friday but not clear till monday. Just wondering if as long as the 'last night's balance' keeps me in my limit if I withdraw, I won't be charged fees etc? I'm with Barclays btw.

innovate

Best ask Barclays if you are unclear what your available balance is.

Mikeyorks

Bridge-Burner wrote: »

This was by bachs and would be put recognised on a friday but not clear till monday.

Both Bach and BACS - are dead.

If you transfer money it will be by Faster Payment ..... for which you need cleared funds. Just as you would have done for any BACS payment made out of your account in the past?

Dr_Cuckoo3

http://ask.barclays.co.uk/help/day2day_banking/cheque_clearance

"With our Instant Access feature, you don't have to wait for the normal cheque clearing cycle to complete before you can use your money. You can start drawing against a cheque from the day it's paid in to your account (if before 3.30pm), so long as you are sure it won't bounce (subject to status and limit). There's no charge for this service. " :think:

Day 2 for interest purposes :whistle:

Bridge-Burner

^wow thanks just what I was looking for. That is a pretty good set-up actually one of the few good things a bank would do I guess. When I went in a cashed it they said 5 days!

@Mikeyyorks: What do you mean they are dead? I just mean the method employers or the jobcentre use to pay your money is all.

Mikeyorks

Bridge-Burner wrote: »

@Mikeyyorks: What do you mean they are dead? I just mean the method employers or the jobcentre use to pay your money is all.

A vague attempt at humour. Bach was the composer .... BACS was the method by which you often moved money around up to 1st Jan. At which point it ceased to be used for personal transfers.

As you linked the reference to 'I dipped in to it' ..... I (reasonably?) assumed you meant you transferred some money by BACS. And was pointing out you need cleared funds whatever the method. But if we're talking inbound payments from an employer / Govt Dept ....... then they still use BACS Direct Credit.