Problem lodger - What's the best day to put a cheque in?

mikeb29

Hi there,

I had a problem lodger which I have now got rid of. Unfortunately, he owes me £350 in rent. I have since lost contact with him and he is not responding to my phonecalls and e-mails.

I have four cheques he has given me that have bounced. I intend to cash one again to settle the money he owes me.

What I would like to know if there is a "best day" to put the cheque in to maximise the number of working days the cheque is processed in case he tries to stop it. I'm hoping he won't notice the money leaving his account.

If I put the cheque in on a Monday, according to the bank 2-4-6 system it should be cleared completely by the next Tuesday.

Would it be better if I put it in on a Friday?

Cheers,

Mike

Mikeyorks

mikeb29 wrote: »

I have four cheques he has given me that have bounced. I intend to cash one again to settle the money he owes me.

Given the quote above - I doubt there is any best day - to do it normally

Take the one you intend to re-present into your Bank and ask for a 'special presentation'. It will cost you £10 - £12'ish - but possibly worth it. Your Bank will send it to his Bank by 1st Class post - his Bank will then 'phone yours on receipt and advise whether there are funds to meet it. If there are then effectively the funds are 'reserved'. The cheque will still have to go via Clearing in the normal manner .... so you don't get your funds more quickly. But you do have the added certainty, provided the funds are there (and he hasn't already put a STOP on it ....too late to do that after it's 'reserved')

http://www.apacs.org.uk/resources_publications/faqs/cheques_6.html