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Halifax Bankers Draft Question

welcher
welcher Posts: 1 Newbie
in Budgeting & bank accounts
Hi All,

I have just received a Bankers Draft from Halifax for PPI and wondered how long it would take to clear?

Is the process instant or does it take a few days to clear?

Regards,
welcher

Comments

  • antrobus
    antrobus Posts: 17,386 Forumite
    welcher wrote: »
    Hi All,

    I have just received a Bankers Draft from Halifax for PPI and wondered how long it would take to clear?

    Is the process instant or does it take a few days to clear?

    Regards,
    welcher

    Bank drafts go through clearing, the same as any other cheque. The difference being that a draft is a cheque drawn on the bank's own account, so it shouldn't really bounce.
  • rb10
    rb10 Posts: 6,334 Forumite
    It's the same as a normal cheque, so it depends on your bank.

    It will certainly be available by the fourth working day after you pay it in.
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    If it drawn on the bank's head office then it will have to go through the clearing cycle before you are able to draw against it.
    This is certainly how the refunds for LloydsTsb have been done.
  • Milarky
    Milarky Posts: 6,356 Forumite
    Part of the Furniture 1,000 Posts Photogenic
    There's no such thing as a draft question on this forum.
    .....under construction.... COVID is a [discontinued] scam
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