number of days for cheques to be called and cleared: different banks/BSs

planteria

if i pay a cheque into my Barlcays account on a monday, it is called from the payer's bank account on the wednesday, and clears in my account on the friday.

is this the same with HSBC, Halifax, Santander and Nationwide? might any of these be slower/variable?

Hazzanet

http://www.chequeandcredit.co.uk/cheque_and_credit_clearing/cheque_clearing_timescales_(2-4-6)/

planteria

thank you Hazzanet..

i wasn't sure whether Nationwide, as a building society, might use another bank as a clearing bank, therefore being slower.

what about if cheques are paid into Building Society savings accounts? does 2-4-6 still apply?

Hazzanet

Nationwide have this cheque clearing calculator:

http://www.nationwide.co.uk/support/support-articles/services/cheque-clearing-calculator

planteria

thanks again...so Nationwide c/a looks the same....

the key point i really need want to establish is the day that a cheque would be called from the payers account. i can pay cheques into my Barclays account on a friday knowing that they will be called from the Payers account on the tuesday---also the day that his card payments from fri-sat-sun will appear in his account.

if i can i will pay into other accounts using the same system, for my own convenience and for rates/rewards. but i want to establish that i won't miss out as a result.

cifpower

If it concerns you that the cheque may bounce, why not ask the payer to transfer the money to you directly on the day he can afford to?

planteria

a fair question cifpower, but i already have some cheques, and i don't really want to have to revisit certain things.

dzug1

planteria wrote: »

thank you Hazzanet..

i wasn't sure whether Nationwide, as a building society, might use another bank as a clearing bank, therefore being slower.

They use HSBC I believe

planteria

it looks as though the payments would be handled according to the 2-4-6 system into Current Accounts though, dzug.

anyone know re. Nationwide Savings Accounts?

YorkshireBoy

planteria wrote: »

it looks as though the payments would be handled according to the 2-4-6 system into Current Accounts though, dzug.

anyone know re. Nationwide Savings Accounts?

Looks like 2-5-6, according to the information on their website...


http://www.nationwide.co.uk/support/support-articles/services/cheque-clearing-calculator

planteria

so, i think i can reliably put cheques into Nationwide FlexDirect c/a or Santander123 c/a on a friday, knowing that the cheques will be called on the tuesday, as per paying into Barclays c/a. but i will avoid paying directly into Nationwide Savings Account...which is fine.