TSB Faster cheque clearing

aj23_2

Grumpyoldmoo wrote: »

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.

I didn't know that, seems pretty low.

aj23_2

BooJewels wrote: »

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.


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.

Who do you bank with? Some you can post them.

aj23_2

I've noticed that when I pay my Halifax Clarity with a cheque in branch, it debits my current account and clears my credit balance instantly, even on a Saturday. It's almost like it's treated as a cash transaction. Perhaps that's because I also have my current with them, but either way I'm surprised it's still that fast.

Herbalus

All banks will launch this service at some point. It's in testing stages with most, but eventually all will come aboard.

Another nail in the coffin for local branches. Cheques was the only reason I used them.

BooJewels

aj23 wrote: »

Who do you bank with? Some you can post them.

Yes, I believe so - I found that out today - and post them into the branch ATM machine, so that can potentially be done out of hours.

I used to have my business account with Alliance and Leicester purely because I could post cheques - in the day when business clients all paid that way.

aj23_2

Herbalus wrote: »

All banks will launch this service at some point. It's in testing stages with most, but eventually all will come aboard.

Another nail in the coffin for local branches. Cheques was the only reason I used them.

Yeah but there are limits and restrictions on the amount and values of cheques you can do via apps. And if it's rejected you'd still have to go in branch anyway.

I personally still would go to a branch. If you don't want to lose things, you have to use them.

takman

Grumpyoldmoo wrote: »

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.

I have tried it to see if it works by getting someone to write me a cheque and it there were no problems at all.
But i don't know why you wouldn't try it as it's much more convenient and even if it didn't work you still have the cheque and a won't lose out.

System

aj23 wrote: »

I've noticed that when I pay my Halifax Clarity with a cheque in branch, it debits my current account and clears my credit balance instantly, even on a Saturday. It's almost like it's treated as a cash transaction. Perhaps that's because I also have my current with them, but either way I'm surprised it's still that fast.

When you use your own cheque (in your own bank) it becomes a withdrawal instruction. They've debited your account and credited (their) credit card collection account.

aj23_2

Heng_Leng wrote: »

When you use your own cheque (in your own bank) it becomes a withdrawal instruction. They've debited your account and credited (their) credit card collection account.

That didn't happen when I was with Santander though.