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Paying house deposit by cheque
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baz8790
Posts: 111 Forumite
I'm planning to pay my deposit to the solicitor by cheque.
Do I have to inform my bank that I have written a check for a large amount of money?
Do I have to inform my bank that I have written a check for a large amount of money?
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Comments
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I'm planning to pay my deposit to the solicitor by cheque.
Do I have to inform my bank that I have written a check for a large amount of money?
No. They'll probably be more careful at checking your signature, but otherwise I've never encountered banks being awkward about big cheques.0 -
Should be fine. Just check exactly how long it will take to clear and make sure you leave ample time.0
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The solicitor may not be totally happy. It's possible for cheques to be returned unpaid long after the normal clearing time. A direct electronic payment may be easier.A kind word lasts a minute, a skelped erse is sair for a day.0
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The solicitor has stated that cheques must be recieved 6 working days before completion.
i am planning to drop the cheque off tomorrow and the completion is on the 29th so leaving plenty of time incase of issues.
My bank have closed most of the local branches only leaving 2 in the center of town open so going into the bank to ask for a transfer is going to be really difficult.
I thought a cheque would be the best option for paying, if any issues arrive I will have to take a half day off from work to ask the bank to make a transfer (online limit is not enough)0 -
Personally I'd far rather do it online. Of course, it depends on the value of the deposit, and the bank's online limits, but you've got around 8 working days, so 8 bank transfers?
Or as suggested, a CHAPS transfer - can't you do that via telephone banking?0 -
I suspect your solicitor will not accept a cheque, and will request a banker's draft."You were only supposed to blow the bl**dy doors off!!"0
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maninthestreet wrote: »I suspect your solicitor will not accept a cheque, and will request a banker's draft.
The OP has just said that they do accept cheques.
A banker's draft isn't really any better, as it still needs to actually clear before the solicitors send the funds by CHAPS, plus they'll need evidence of which account the funds came from (rather than just reading the name on a cheque).0 -
Some solicitors actively reqiest cheques as it makes it easier for them to time everything in a chain0
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