Cheque Clearing time - Ulster Bank

meadowcat

My Santander bond matured. I closed it last Monday and was given a Santander cheque. This was lodged on Tuesday to Ulster Bank. The amount was over £46,000. It is still not showing in my Ulster Bank account. Called them twice last week and they say it is because of the "unusual transaction". It will be a full week tomorrow and I am becoming quite annoyed that the amount is not even showing in my account - even as unavailable. Is this normal?

jonesMUFCforever

I would have thought the cheque should be showing in your account even as an unavailable balance.
Are you sure they have paid it into the correct account - did you get a receipt?

meadowcat

My husband lodged it in a quick lodge envelope, so no receipt as such although they have acknowledged receipt during 2 phone calls he had with them last week. Getting a bit concerned. Ulster Bank hasn't the best track record.

System

Due to the value of the cheque they might not make it available until a full 6 business days have passed.

This will be Wednesday / Thursday of this week.