Lloyds business account cheque clearing

civil12345

Hi, I have a cheque from a Lloyds business account that I want to pay into my Lloyds personal account. I want to pay this into my account tomorrow...any idea when I will have access to the funds? I can go to the branch closest to me or the branch that is named on the cheque a bit further away if that's going to make a difference.

Thanks

CKhalvashi

Probably immediately.

I paid a cheque to a cabbie probably 4 years ago, and it cleared (Lloyds to Lloyds) from my account immediately. Know this as I saw him come out the bank as I was going in.

civil12345

OK, do you know if it makes a difference if it's the same branch? Was your account a business account?

Thanks

CKhalvashi

civil12345 wrote: »

OK, do you know if it makes a difference if it's the same branch? Was your account a business account?

Thanks

I think it came out of one of the company accounts (it was definitely a business trip back from Heathrow), but can't be 100% sure. I haven't banked with Lloyds for at least 3 years now.

Any reason you can't do a faster payment?

civil12345

Thanks again. It's a business that has given me the cheque - they said they'd rather do that than a bank transfer :-(

Westie983

How much is the cheque for?

House cheques (drawn on the same bank as its being paid into) will clear the same day you can draw against it, but you run the risk of it bouncing and coming back unpaid.

if its over £1000.00 then it will need to go through the clearance cycle.

The cheque will clear on Thursday 17th, (forth working day) cheque clearance starts the day you pay it in but as this was a Saturday and a non bank working day the clearance will start from Monday,

you will have access to the funds from Thursday, interest on the money from Tuesday (second working day) and the cheque certainty of fate (wont bounce) from Monday 21st (sixth working day)

Wont make any difference which branch you pay the cheque in at, the clearance will be the same.

civil12345

Thanks Westie, it's more than £1,000

jonesMUFCforever

civil12345 wrote: »

Thanks Westie, it's more than £1,000

Then it is treated like any other cheque so 2-4-6 clearance process applies.
Pay it in on Saturday/Monday it will be available to withdraw next Friday (unless it bounces).