Cash clearing time

MFewings

I was with my daughter the other evening and she paid some cash into the cashpoint as the branch was closed.

It was Halifax and I was quite stunned when she said the day the money would be available as it was going to be 3 days.

Having banked with Nationwide myself for many many years if I have paid cash into the machine it is always counted next morning and credited to the account immediately. (In fact credits are backdated to the time they are actually entered into the machine).

Is this normal practice for the Halifax to hold cash 3 days before releasing it? Do other banks also do this?

cw635

I'm with Barclays and cash clears immediately there. Maybe it's different for cash paid into ATMS; longer processing time or something?

John_in_the_city

Well all the banks are slightly different, so let me suggest what is perhaps an average practice amongst them.

If you deposit cash across the counter on its own it will be credited immediately.

If you deposit cash and a cheque across the counter togather on the SAME pay-in slip, then it will take 3 days.

If you deposit via ATM it may take 3 days.

Hope this helps

regularsaver1

Hi this is not an immediate deposit machine that they have inside most Halifax branches , that clears immediately

She is putting the money in an normal ATM via an envelope which has to be opened , counted and keyed, hence the time delay

To clear instantly she needs to go inside the branch. Nationwide don't have instant machines outside do they?

Re John's message, halifax don't do paying in slips so you never have the problem of cheques and cash on one slip