Seven day switch and cheque payments

jdmwoods

I paid a cheque as deposit a few weeks ago now and am in the process of switching banks using the seven day switch guarantee service from the Co-op to Nationwide. This is due to complete on the 10th Sept, but I have noticed that the cheque has not been paid out yet, despite there being sufficient funds to cover the amount. I can't be too sure if the cheque has been paid in at the recipients' bank yet. Will the switch guarantee cover this if the funds are requested once the switch has taken place, so the payment will still be made if the accounts have switched, with payment made from the new account rather than the old one?

I can't get a straight answer to this, the co-op bank don't seem to have any idea what would or would not happen upon completion of the switch.

meer53

It's explained in the switching information. If the cheque debits after the day of the switch it will be passed to your new account and will debit there.

Fruit_and_Nut_Case

meer53 wrote: »

It's explained in the switching information. If the cheque debits after the day of the switch it will be passed to your new account and will debit there.

I Googled for that and didn't find it. Got a link? I believe you but I just wonder how I missed it.

meer53

http://www.nationwide.co.uk/products/current-accounts/our-current-accounts/switch#xtab:cleared-funds

Fruit_and_Nut_Case

meer53 wrote: »

http://www.nationwide.co.uk/products/current-accounts/our-current-accounts/switch#xtab:cleared-funds

Thanks. I followed that and got

The Current Account Switch Service will redirect payments to your new account for up to 13 months from your switch date.

I was Googling "switch guarantee" cheque. That'll teach me to be too specific.

jdmwoods

Thanks everyone. I didn't look through the switching information at the time but after the responses, the Cheque and Credit Clearing Company website has an explanation specifically related to cheques and the switch guarantee. The co-op bank phone banking people don't seem to have a clue one way or the other about anything...