Cheque clearance time for a Barclays cheque

gregswhu26

Hi, i received a cheque today from Barclays for miss sold PPI, i took the cheque to my local Barclays and deposited it into my Barclays basic account. I know a cheque usualy takes 5 working days to clear but does anyone know if this cheque should clear sooner seeing as it is from Barclays going into a Barclays account? I did ask the cashier to put it through on the faster service but i was told that isnt available anymore.

GingerFurball_2

4 working days.

Banks won't clear their own cheques any faster in preparation for the enhanced clearing that's coming next year.

JuicyJesus

There also isn't a "faster service" for clearing cheques, there is only special presentation which is for certainty of fate (i.e. whether the cheque is paid or not) rather than speed. It can actually be slower than regular clearance and is in general a big waste of money.

GingerFurball_2

JuicyJesus wrote: »

There also isn't a "faster service" for clearing cheques, there is only special presentation which is for certainty of fate (i.e. whether the cheque is paid or not) rather than speed. It can actually be slower than regular clearance and is in general a big waste of money.

If you paid a Bank of Scotland or Halifax personal cheque of £1,000 or less into a Bank of Scotland or Halifax account then it used to clear instantly. That's changed now.

Other banks might have done similar with their own cheques.

henm2

Cheque clearance in the UK follows the 2,4,6 clearing system.

You can usually draw funds against the cheque paid in after 4 working days. However be careful if you are selling something such as a car or other valuable item as it is actually up to the morning of the seventh working day before you can count on a cheque being fully paid.

One exception to the above is if you pay a cheque in at your own bank branch , the cheque being also drawn on that branch, then that 'house' cheque will clear and be be fully paid in 1 working day. (working days counted as being Monday to Friday up to 3.30 pm. A cheque paid in after 3.30 pm will usually start the clearing process the next working day)

And yes there never was a "faster service" for clearing cheques, just a fate of cheque 'special presentation' service which in my experience is rarely used now

http://www.money.co.uk/current-accounts/how-does-cheque-clearing-work.htm

jonesMUFCforever

PPI cheques are normally drawn on a Head office account.
So they will have to clear just like any other cheque.