Paying in cheque with first direct

Houndog6105

Hi

So I have a first direct account and I needed to pay a cheque in so I popped down to my local HSBC bank and paid in the cheque yesterday morning with one of them do it yourself atm machine in the bank but still nothing is showing on my account

Is this normal? How long does it take?

noobinvestor

It will take up to 5-7 working days for a cheque to clear.

Houndog6105

Wow is it really that slow with first direct?
Should something not be showing on my transactions though or balance just to say a cheque was actually deposited yesterday

PRAISETHESUN

It's not a problem with FD per se, as most banks use the slow "2-4-6" cheque system. Some banks are moving to a faster system which you can access the funds after 2 days, but I don't know if FD is signed up to that yet. In either case, the cheque will still take a bit of time to show as having being banked even if the funds are not yet available - not having banked a cheque in ages I would've thought 1 working day would be enough, but it might need more time, especially if it's on the old system.

Brewer20

Using the post office to pay in a cheque it usually lands max 3 days for us, the odd occasion 2 days.

20SmthngSver

It can be much quicker than that. Depends if you used the machine or the counter. Or you can post it to FD.

Houndog6105

I used the machine in the bank

Tried post office at first but I don't have any paying in slips and neither did my local post office. It's been a day now and nothing showing on my transactions

noobinvestor

Did you get a receipt of transaction when you banked the cheque? My primary bank is Barclay and at the bottom it states how long it may take to clear the cheque.


One day isn't enough time, it will show up eventually but then it may take a few days for the funds to be available.


It depends on the bank to be honest.


Nothing to worry about, you just have to be patient. I hate cheques, I prefer bank transfers.

eskbanker

Read section 11 of the FD Ts & Cs to understand cheque payment timescales....

Houndog6105

I got a receipt yes . I'll have a read of the Ts & Cs now

born_again

Usually it would show at the end of the day it was paid in.

Give them a call and chase it up.