Royal Bank of Scotland "Processing" of Inter branch cheques

cosmokramer2004

I think most of the world is well aware that there are better payment options than cheques but unfortunately it's what I have had to deal with on this occasion! But I shall heed the advice given and I will chastise all those who choose to pay me in that fashion from now on. :A

jonesMUFCforever

cosmokramer2004 wrote: »

How do you use faster payments to cash a cheque?

You don't but a lot of people say to cash a cheque when paying it in to their bank.
Instead of receiving a cheque which you physically have to pay in - give the person who owes you money your bank sort code and account number and wait for it to go into your account within 2 hours (in most cases) and its cleared funds.

cosmokramer2004

jonesMUFCforever wrote: »

You don't but a lot of people say to cash a cheque when paying it in to their bank.
Instead of receiving a cheque which you physically have to pay in - give the person who owes you money your bank sort code and account number and wait for it to go into your account within 2 hours (in most cases) and its cleared funds.

That's all well and good, but I was given cheques. BACS/FPS was not an option, hence me starting a thread about cheques. I could have started a thread about BACS/FPS and someone could just as easily recommended I skip banks altogether and just accept cash in hand as it's faster! Yes, it is, but it's not the topic, or point, of the thread!

jonesMUFCforever

I was answering pmduk.

Sorry if you didn't find my reply worthwhile.
If you had a cheque why bother posting at all - 2-4-6 cheque clearance is not rocket science.

cosmokramer2004

jonesMUFCforever wrote: »

I was answering pmduk.

Sorry if you didn't find my reply worthwhile.
If you had a cheque why bother posting at all - 2-4-6 cheque clearance is not rocket science.

My apologies, I thought you were replying to me as you had quoted me in your post. I think you missed the gist of my original post, 2-4-6 day inter-branch cheque clearance is unusual - to me anyway, Lloyds TSB don't have this policy - which is why I asked the question in the first place.

jonesMUFCforever

cosmokramer2004 wrote: »

My apologies, I thought you were replying to me as you had quoted me in your post. I think you missed the gist of my original post, 2-4-6 day inter-branch cheque clearance is unusual - to me anyway, Lloyds TSB don't have this policy - which is why I asked the question in the first place.

They do in certain circumstances - eg non personal cheques over a certain amount (don't ask me how much) and where there is insufficent funds on the cheque when presented for payment when paid in.