Time for cash paid in at bank to clear own account?

Ant555

How long does cash paid in to your own account at a bank take to clear before it can be accessed?

I need to pay in £1000 in cash to subsequently pay for an item on a debit card as the retailer places a surcharge for cash and credit cards (never heard of a surcharge for cash before but there you go)

Thanks

Luckystar

If you pay cash in over the counter or use an ATM that counts the notes for you it will be cleared funds immediately. You can get a mini statement after to confirm your balance. If you use an ATM with deposit envelopes it probably won't be credited until the next working day. HTH

Ant555

Thanks for the reply,

I suspected it would clear fairly quick - i'll go and visit the branch (before it disappears!)

agrinnall

Ant555 wrote: »

I need to pay in £1000 in cash to subsequently pay for an item on a debit card as the retailer places a surcharge for cash and credit cards (never heard of a surcharge for cash before but there you go)

That is a bit bizarre, while businesses are quite often charged a small amount for paying cash into their account it is very unusual for them to surcharge their customers for paying in cash. What sort of item is it that you're purchasing?

danonwheels

As someone else has mentioned, paid in over the counter or via a machine that counts the cash is credited instantly.

gingercordial

danonwheels wrote: »

As someone else has mentioned, paid in over the counter or via a machine that counts the cash is credited instantly.

With the machines you have to be careful about cut off times. I nearly got stung at Natwest because the machines have a 3.30pm cut off and my cash deposit credited a minute or two past that. I transferred the money straight out and in consequence went overdrawn. They waived the fees because their information on this isn't very clear on machines vs counter cut off times, but going earlier in the day is better if using machines.