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Cheque question for budgeting
iwbus
Posts: 147 Forumite
Easy question for the people on here - I paid my garage bill by cheque this afternoon, any idea when it should be taken out of my account? Calculated guesses welcome!
Snatching defeat from the jaws of victory
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Comments
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Not enough information:
What time this afternoon?
Who do you bank with?0 -
Depends when they put the cheque in the bank!!!0
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Depend on when they bank it. I believe they have up to 6 months to present a cheque to the bankBaby Ice arrived 17th April 2011. Tired.com! :j0
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Above are true. But on (a very rough average) around four or five working days from the day you give it to them. Depends on how quickly they bank it, mainly!!Unsecured DFD Aug '07 :jBought grown-up house Feb '08Mortgage Balance [strike] £165,000[/strike]£147,500 :rolleyes:0
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I'll say it will come out on the 30th April......
Just my calculated guess and a look in my crystal ball.0 -
if the garage uses the same bank as you it could be taken on the day it is presented- does not necessarily have to be same branch as you0
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If they happen to bank at the same bank as you and they pay it in tomorrow then your account could be debited tomorrow.0
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It depends on the bank. I bank with Halifax, and find money is always taken exactly 3 working days from when the cheque is presented, even with Halifax/Bank of Scotland cheques. However I do remember (going back a few years now) when I was with HSBC, if the person payed a cheque into an account held at the same branch as you it would go through that night.
It would be unlikely the garage ran to the bank this afternoon with your cheque, so I would say between Monday and Wednesday next week.0 -
To go back to the OP question, for budgeting purposes assume that the cheque is debited from your account the moment you hand it over. That way you have no extra problems with charges and interest.0
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If they happen to bank at the same bank as you and they pay it in tomorrow then your account could be debited tomorrow.
Ive had this happen with different banks before, but I paid directly at the other Bank. I was paying my student accomodation fees.
Put me over my overdraft. Wasnt happy!0
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