Natwest - quicker cheque clearance time?

DISKIN31

My cheques with natwest have always been available to withdraw pretty quickly too, pay in on a Monday, available to withdraw on the Wednesday, been like it for a number of years now and never had charges for taking it out. Likewise if you get paid on a Monday the money is available to withdraw on a Saturday ( though direct debits and payments due out on a Monday go out on the Saturday, so pros and cons).

My co-op current account was the same too in relation to cheques being available for withdrawal within a few days.

OhReally_2

DISKIN31 wrote: »

My cheques with natwest have always been available to withdraw pretty quickly too, pay in on a Monday, available to withdraw on the Wednesday, been like it for a number of years now and never had charges for taking it out. Likewise if you get paid on a Monday the money is available to withdraw on a Saturday ( though direct debits and payments due out on a Monday go out on the Saturday, so pros and cons).

My co-op current account was the same too in relation to cheques being available for withdrawal within a few days.

Makes one wonder why the 2-4-6 process was ever needed to be established, and why all the banks refer to it, including the Co-Op & Natwest.... :cool:

Who gets paid by cheque?

Any direct debits that are not for the amount advised or are taken before the date specified on the advance notice are subject to the risk of a valid indemnity claim under the terms of the Direct Debit Guarantee.

Perhaps that's part of the reason the Co-Op Bank reported £billions loss?

Toe-Jam

I paid a cheque (lloyd bank) from dialaphone into my Ulsterbank (Part or RBS) group account on Tuesday 16th Sept and I withdrew it on 18th Sept when it became available.

It bounced this morning 22nd Sept.

Point is, a cheques not clear until the 6th day even if you can spend it.

System

People on this (old) thread were talking about when you had the cleared funds available in your account; not certainly of 'certainty of fate' which occurs at day 6!

Toe-Jam wrote: »

I paid a cheque (lloyd bank) from dialaphone into my Ulsterbank (Part or RBS) group account on Tuesday 16th Sept and I withdrew it on 18th Sept when it became available.

It bounced this morning 22nd Sept.

Point is, a cheques not clear until the 6th day even if you can spend it.