Cheque clearing period

Valli

Thanks for the update! Ah the days when you could write a cheque for your shopping a couple of days before payday...was like having your own personal (and free!) payday loan system.
*sigh*

jonesMUFCforever

realaledrinker wrote: »

Don't see how that is possible as the clearing cycle for cheques via BACS is 2 working days (e.g. deposit Mon, clears Wed)?

Just for arguments sake say that that the building society used LTSB as an agent to process cheques and OP's cheque was also drawn on LTSB the cheque would have been debited as soon as it was paid in by building society.

Gromitt

jonesMUFCforever wrote: »

Just for arguments sake say that that the building society used LTSB as an agent to process cheques and OP's cheque was also drawn on LTSB the cheque would have been debited as soon as it was paid in by building society.

Not always, see http://www.lloydstsb.com/legal/cheque_clearing_process.asp

jonesMUFCforever

Gromitt wrote: »

Not always, see http://www.lloydstsb.com/legal/cheque_clearing_process.asp

That link seems to be for cheques you have paid in not written out.
Any personal account cheque that is paid in and is part of the branch work for that day will debit the account on that day.