Lloyds TSB Cheques query??

P4ula

Hi,

I have a current Account at my local Lloyds bank (which is actually a 'sub branch' of the main branch in the nearest town).

On Wednesday I received a large (for me) cheque from someone which I paid into my Lloyds account on Thursday. The cheque, I believed, was also a Lloyds cheque (it had Lloyds TSB written on it, exactly like my own cheques in my cheque book for my Lloyds account), but just from a different branch.

Anyway, I asked the chap on the counter when I paid the cheque in at my local branch how long it would be before I could draw on the cheque and he said the funds should be available from Friday, providing it didn't bounce. I know the person who sent me the cheque and the thought of it bouncing is not even on the radar.

Anyway very late on Thurdsay night, using online banking, I checked my balance and the cheque was showing as 'available' funds. (When ever I use internet banking I always take a screen capture for my records so I have proof). So on Friday I wrote a cheque out using some of the balance from the paid in cheque.

I thought everything would be okay and normal and thought no more about it.

However the postman has just delivered me a letter from my branch of Lloyds saying that the cheque I had received and paid in was from a now TSB branch account and had to go through 'clearing' and thus my available balance has been reduced accordingly pending it taking the 2,4,6 clearing cycle.

However, the person to whom I wrote my cheque, banks at the same branch of Lloyds as myself. I have just rang her and she had presented my cheque to the branch for payment on Friday morning and she was given the funds from it (she also has a Lloyds TSB cheque book believe it or not!!).

This has now put my account into an overdraft situation as there are not the cleared funds in the account. I have never been overdrawn in my life and I am horrified. No doubt I will get charged for this knowing (and reading on here) how some customers are treated.

Just for my piece of mind, can someone explain how if I receive a cheque with 'Lloyds TSB' on it, I am expected to know if it is a 'Lloyds or TSB cheque? (As I said my own cheque book is half full of 'Lloyds TSB' cheques).

Also as I both asked the member of staff about when it would clear and also have a copy of my balance showing my 'cleared funds' on Thursday night, isn't this the banks error and not mine?

Also, why did they pay my cheque as cash at the branch if they knew it was not drawn against then cleared funds??

I think I will be calling into my branch on Monday, but feel I need to be on the right footing to complain.

Many thanks for any help.

Paula

GingerFurball_2

If it's a first offence then any overdraft charges will be waived on request, there's really no need to be such a drama queen about it.

Frontera2

There's also really no need to be so rude either?

kinger101

Just point out that you were told that the funds would be available. If the bank clerk couldn't be bothered to check whether the cheque you paid in was from Lloyds or TSB, he wasn't doing his job very well. And you have proof that your account showed available funds.

First, find out if you've been charged an overdraft fee (they may have already spotted their error, and cashed the cheque you'd written rather than bouncing it). If you haven't been charged, it doesn't really matter.

If you have, don't go in apologetic. This is (mainly) their mistake, and you don't want to give them the impression they're doing you a favour by waiving the overdraft fee. They should be doing it because they gave you incorrect information (twice). Just be polite but firm. If they refuse to remove any charges, ask to see the manager, but I doubt it will come to that.



If you do receive another Lloyds TSB cheque, you can find out from the sort code whether it's a Lloyds or TSB by Googling it.

MarkFromCornwall

P4ula wrote: »

I think I will be calling into my branch on Monday, but feel I need to be on the right footing to complain.

You have a good case. If you explain things to the bank I think it's highly likely they will waive any charges.


Mark

Armorica

They will probably waive.

There could be some confusion

1) the guy on the counter accurately explained 246 to you (funds would start to earn interest from the Friday, be available to spend Tuesday and cannot be taken back after the Thursday) [low probability] but you misunderstood and thought his reference to Friday meant you could spend

2) guy on counter didn't understand 246

(plus the added complication of being Lloyds/TSB)

http://www.paymentscouncil.org.uk/resources_and_publications/sort_code_checker/ has hopefully been updated to distinguish between Lloyds and TSB

jonesMUFCforever

OP - When Lloyds and TSB split - everybody kept their sort code and account numbers. So there is no way of telling by looking at a cheque which 'new' bank it is drawn on.


It looks to me that the cashier made a mistake in telling you that the cheque would clear before it did and you have a good case for getting any charges waived.

SuperAllyB

Armorica wrote: »

They will probably waive.

There could be some confusion

1) the guy on the counter accurately explained 246 to you (funds would start to earn interest from the Friday, be available to spend Tuesday and cannot be taken back after the Thursday) [low probability] but you misunderstood and thought his reference to Friday meant you could spend

2) guy on counter didn't understand 246

(plus the added complication of being Lloyds/TSB)

http://www.paymentscouncil.org.uk/resources_and_publications/sort_code_checker/ has hopefully been updated to distinguish between Lloyds and TSB

OP clearly says that online banking showed the funds as available on the Thursday night.

Dobbibill

http://www.lloydsbank.com/legal/current-accounts/cheque-clearing.asp

From the fourth working day after we receive it, the funds are available for you to use but the cheque may still need to be returned unpaid up until the sixth working day after we receive it; and
From the end of the sixth working day after we receive it, if the cheque is returned unpaid by the paying bank, we cannot take the money from your account without your consent unless you have acted fraudulently.

This explains that it is cleared for withdrawal on day 4 and cleared for fate on day 6.

Hope this helps

DB

P4ula

Dobbibill wrote: »

http://www.lloydsbank.com/legal/current-accounts/cheque-clearing.asp

From the fourth working day after we receive it, the funds are available for you to use but the cheque may still need to be returned unpaid up until the sixth working day after we receive it; and
From the end of the sixth working day after we receive it, if the cheque is returned unpaid by the paying bank, we cannot take the money from your account without your consent unless you have acted fraudulently.

This explains that it is cleared for withdrawal on day 4 and cleared for fate on day 6.

Hope this helps

DB

Thanks all.

I will go into the branch tomorrow to see what is what.

Re the link that was posted the the above post, it clearly states at the bottom of the link:

''If you have a Lloyds Bank cheque to pay in then things are slightly quicker. If the cheque is coming from:

• A personal account, we will show it in your account, pay interest on it (or use it to reduce the interest you pay) and allow you to withdraw the funds on the same day that we receive it.''

As far as I was aware, I was paying in a Lloyds cheque (the cheque being printed exactly the same as my own cheque book with 'Lloyds TSB' written upon it). The fact that the cheque was from a branch which was now a TSB cheque never even crossed my mind, nor the cashiers it seems. (If the cheque had just said TSB on it I would probably have guessed - but as it was exactly the same as the cheques in my own Lloyds cheque book how was I to know?). I didn't even know there was an online checker to see what branches are now TSB until I read posts above.



If it had been a cheque from another bank, such as Natwest, Barclays etc, I am aware that the 2/4/6 clearance cycle would have applied and I would not of even bothered asking the cashier when it would have cleared. As I have been a customer of Lloyds since it was originally Lloyds Bank, I knew that a Lloyds cheque does clear quicker if paid into a Lloyds branch.


Anyway I will see what my own branch says and let you all know tomorrow after work.



Paula

jonesMUFCforever

Sorry but did you not read my post? You cannot tell which bank any old Lloyds/TSB cheques are drawn on by looking at them.




As things progress more new green Lloyds cheques will come in with Blue TSB ones.
However as most people seldom write a lot of cheques these days it will be many years before they die out.
I still have an Abbey National cheque book!