TSB Faster cheque clearing

Speculator

Just read this on the TSB website. Does anyone know if other banks are launching this service?

A small delay in launching our faster cheque clearing service.
Our faster cheque clearing service will launch in every branch by the end of November, instead of 31 October as planned. So, instead of the six working days it is currently, when launched, cheques will clear the next working day after you’ve paid them in. Or two working days if you pay in at a cash machine or Post Office.

BooJewels

I've just been in Santander and they said a very fast non-paper cheque clearing service is being trialed in some branches with a full national launch due soon. She said is was a new banking industry-wide process, where a scan of a cheque is processed instead of the physical slip of paper.

I think some banks have already offered this to customers using their apps - you scan/photograph cheques into the app instead of paying the paper in at a bank premises. I don't use an app, but I'd love to be able to 'pay in' a cheque by scanning and uploading it into my on-line banking.

aj23_2

Santander's credit card clearing centre already uses next working day clearing, has done for about 6 weeks as far as I'm aware. Not in branch yet though.

Tesco Bank is already doing next day clearing. But with regard to other banks, I don't know.

aj23_2

BooJewels wrote: »

I've just been in Santander and they said a very fast non-paper cheque clearing service is being trialed in some branches with a full national launch due soon. She said is was a new banking industry-wide process, where a scan of a cheque is processed instead of the physical slip of paper.

I think some banks have already offered this to customers using their apps - you scan/photograph cheques into the app instead of paying the paper in at a bank premises. I don't use an app, but I'd love to be able to 'pay in' a cheque by scanning and uploading it into my on-line banking.

I think they mean through their app.

You can't do it through online banking. You'd have to buy a scanner if ever that became possible, which economically would defeat the point.

Speculator

just seen the option to deposit a cheque on my Clydesdale app. Not tried it yet.

BooJewels

aj23 wrote: »

I think they mean through their app.

No, she said it was going to be a counter process in branches - they're already doing it in some branches and will roll it out to more as they install the equipment and train staff etc. She said cheques would clear your account in 24 hours, as they'd process a scan of the cheque instead of physically moving the paper cheque about, which is what takes time.

You can't do it through online banking. You'd have to buy a scanner if ever that became possible, which economically would defeat the point.

I didn't say you could do it through on-line banking, I said I'd personally love it if you could, that would suit me wonderfully. I already own a good ADF scanner - so no cost to me, in fact, it would save me bus fare travelling to a branch to pay in a slip of paper. But that's speculation, I've no idea if that would ever be possible - but I'd use it if it was.

KxMx

This might be of interest:
https://www.chequeandcredit.co.uk/cheque-users/businesses/cheque-imaging/about-cheque-imaging-phased-roll-out-began

My HSBC branch is still using the old system but hopefully soon they will have the imaging system.

A cheque I paid in via their app on a Friday (4pm) cleared into my account approx 8am the following Monday.

karlie88

Not sure about in-branch.

I know that Halifax offers cheque deposits via it's app and Barclays (both in beta stage last time I saw).

Problem is they were limited to £500 per cheque. Does anyone know of a banking app that allows cheque deposits for higher amounts? If so, which one(s)? Ta.

Gers

With RBS scanning a cheque can be done in branch and by app. Lloyds accepts cheque deposits on the app too as does BoS.

Instructions say to write the day of deposit on the back of the cheque (after scanning) and keep until cleared.

knack92

Gers wrote: »

With RBS scanning a cheque can be done in branch and by app. Lloyds accepts cheque deposits on the app too as does BoS.

Instructions say to write the day of deposit on the back of the cheque (after scanning) and keep until cleared.

I don't see that option in RBS app. Where are you seeing it?

Grumpyoldmoo

Personally I would not use the mobile banking app for cheque deposits at the moment, there are so many problems with it. The limit is £500 per cheque across all banks.