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

System

Nationwide clear their own cheques and have done so for a number of years.

dzug1 wrote: »

They use HSBC I believe

System

The only way to be totally sure is to deposit the cheques at the bank and branch on which they are drawn.

Cheques will normally be debited about 3 working days after deposit unless they are they are drawn against the same bank or group e.g. RBS cheques deposited at NatWest as they will have the same processing centres - these might be overnight or day 2.

planteria wrote: »

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.

planteria

thanks Heng Leng..

Heng_Leng wrote: »

Cheques will normally be debited about 3 working days after deposit..

consistently 2 days in my experience. between NatWest and Barclays. and also between NatWest and HSBC/Santander/Nationwide.

Heng_Leng wrote: »

...unless they are they are drawn against the same bank or group e.g. RBS cheques deposited at NatWest as they will have the same processing centres - these might be overnight or day 2

so, options to bank NatWest cheques? i know i can bank them at Barclays/HSBC and they will be called 2 days after i deposit them & clear 4 days after i desposit them. but i now have an RBS current account. will they be called & cleared earlier if i bank them there?

Heng_Leng wrote: »

The only way to be totally sure is to deposit the cheques at the bank and branch on which they are drawn

by opening an account at the NatWest branch that the payer banks?

and what about banking them at another NatWest branch (far more convenient)....can i do that, requesting payment into a Barclays/HSBC account? i've never done that, but i was told yesterday that it can be done.

System

I'm guessing you're trying clear these cheques faster than the clearing process.

The only certain way is to deposit the cheque at the bank AND branch which it drawn at. It will then be treated as a withdrawal rather than than go through clearing.

Using another branch of NatWest is very likely to result in the standard clearing cycle.

planteria

Well, I'm not trying to do anything in particular, but understanding any available options could be very important to me.

So, the certain way you suggest requires opening an account at that specific branch or just visiting it?

Armorica

Why is it very important?

The standard maximum clearing times are 246 for current accounts and 266 for savings accounts.

This can be quicker in certain circumstances, for example, when the payee and payer bank with the same group, bank, or branch. Particularly if sharing a branch or bank, the cheque may clear on the same day.

Currently, if you want funds quickly, you should ask for a Faster Payment or a mobile payment. These will usually clear within two hours.

planteria

planteria wrote: »

and what about banking them at another NatWest branch (far more convenient)....can i do that, requesting payment into a Barclays/HSBC account? i've never done that, but i was told yesterday that it can be done.

if someone has a NatWest cheque that they want to pay into their HSBC account, they can pay it in at an HSBC branch, into their account. can they also actually do this at a NatWest branch? and if so, what are the implications of this?

planteria

and thanks Armorica. but the other payment options aren't available. but understanding any available options with cheques i already have could be very important to me.

Armorica

Theoretically it is possible. You would need to confirm that with NatWest. You may find it easier in 'last bank in town' situations.

The majority of the clearing cycle would be the same. But with paying into HSBC, you are likely to see a credit (which wouldn't be available) to you on the same day. If paying into another clearing bank, you are unlikely to see the credit until the 3rd day.

planteria

thanks..the no. of working days that matter to me are
1. the day the cheque is called on the payers account.
2. the day the cheque clears in my account.