We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Special Clearance CQ charge = £12, unpaid DD charge = £30! Fair?
Bollinge
Posts: 84 Forumite
I have an account with Nationwide, and as they take eight days to clear a cheque, rarely I ask them to do a "Special Presentation" on a cheque, i.e. post it first class to the drawer's bank.
This is what's involved:
The teller has to complete an A4 carboned form in duplicate by hand.
Then fill in another form for me to sign to say I understand the cheque is subject to the vagaries of the Royal Mail.
Look up the address of the drawer's bank special clearance department on the computer.
Hand write the address on an envelope.
Photocopy cheque.
Print computerised withdrawal form for £12 charge for me to sign.
Debit my account £12.
Give me copies of everything.
Put paperwork in envelope, affix first class stamp and post to drawer's bank.
Next day, telephone drawer's bank to see if cheque has arrived.
Day after that, repeat as above, if necessary, and so on.
When the drawer's bank confirms receipt, and says cheque will not bounce, teller credits my account.
Teller phones me to confirm cheque has been paid.
Total cost to me £12. Contrast that with an unpaid direct debit:
Computer receives e-request for DD funds.
Computer says no to DD because of insufficient funds or uncleared effects.
Computer sends e-message to whoever requested DD saying debit rejected.
Total cost to me: £30
This is what's involved:
The teller has to complete an A4 carboned form in duplicate by hand.
Then fill in another form for me to sign to say I understand the cheque is subject to the vagaries of the Royal Mail.
Look up the address of the drawer's bank special clearance department on the computer.
Hand write the address on an envelope.
Photocopy cheque.
Print computerised withdrawal form for £12 charge for me to sign.
Debit my account £12.
Give me copies of everything.
Put paperwork in envelope, affix first class stamp and post to drawer's bank.
Next day, telephone drawer's bank to see if cheque has arrived.
Day after that, repeat as above, if necessary, and so on.
When the drawer's bank confirms receipt, and says cheque will not bounce, teller credits my account.
Teller phones me to confirm cheque has been paid.
Total cost to me £12. Contrast that with an unpaid direct debit:
Computer receives e-request for DD funds.
Computer says no to DD because of insufficient funds or uncleared effects.
Computer sends e-message to whoever requested DD saying debit rejected.
Total cost to me: £30
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.4K Banking & Borrowing
- 253.7K Reduce Debt & Boost Income
- 454.4K Spending & Discounts
- 245.4K Work, Benefits & Business
- 601.2K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.3K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards