Halifax and cheque clearing time

persil

Hello, I have recently opened an account with Halifax and paid a cheque into my branch on Saturday; they're telling me that it won't be clear until Friday- is that usual as it seems a really long time compared to other banks I use?

Thanks for any replies.

kirkbyinfurnesslad_2

Yes, dont forget Saturday is not a bank working day

persil

Thank you, I did remember that but it only takes until - for example - the weds morning in a Natwest….anyway, I know now!

Archi_Bald

Sounds about right, and is fully in line with the 2-4-6 timescales used by all UK banks.

Clearing is usually different from when you you might be allowed to withdraw the funds. I believe Halifax allow you to withdraw after either 4 or 5 working days, depending on the deposit method (details are in the T&Cs). Some other banks might allow withdrawals earlier. This does not mean the cheque has already cleared. If you withdraw before a cheque has cleared, you are taking the risk that it might bounce and you could end up with overdraft etc charges.