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"Extended" cheque clearance at Santander
Hugh13
Posts: 14 Forumite
I paid in a cheque yesterday at my local Santander branch. I checked how long it would take to clear and was given the usual 2-4-6 rule, unless it went into extended clearing, which obviously took much longer. Can't find anything about this in their T's & C's. Google seems to only associate it with Santander.
Can anyone tell me what this is all about.
Can anyone tell me what this is all about.
0
Comments
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May relate to cheques drawn on non-UK banks or non-sterling cheques which fall outside the 2-4-6 rule. Also, cheques which go through money laundering checks would have extended clearing also.0
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could it have something to do with the Bank Holiday,
Cheques are not cleared at weekends or over BH, a cheque paid in on the 27th will be available to draw against by Thursday (3rd) and cleared on the Friday (4th) and COF on the Monday following.(7th)I’m a Forum Ambassador and I support the Forum Team on the Banking & Borrowing, and Reduce Debt & Boost Income boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySaving Expert.Save 12k in 2023 #58 Total (£4500.00) £2500.00/£5000 = 50.00%Sealed Pot Challenge ~17 #24 Total (£55.00) £0.00/£500 = 0.00%Xmas 2023 £1 a Day #13 Total (£85.00) £344.00/£365 = 94.24%Virtual Sealed Pot #1 Total (£500) £550.00/£500 = 110.00%£2 Savers Club 2023 #17 Total (£25.00) £45/£300 = 15.00%The 365 1p Challenge 2023 #7 Total £656.19/£667.95 = 98.23%Total £4095.19/£7332.95 = 55.84%0
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