Cheque rejected by Bank despite the cheque from another bank

DropZone

I have a cheque from Lloyds being a share dividend which I tried to pay into my TSB account but was rejected because it was dated over 6 months ago. As far as I was aware a cheque written by a Bank could not be rejected by another Bank as funds are guaranteed between Banks despite the date on the cheque being greater than 6 months ago. I was told by TSB the rejection was policy for all cheques dated over 6 months ago, however, their policy does not take into consideration who the cheque is from. Is there policy missing Bank to Bank guarantees?

DullGreyGuy

Think you may be thinking of bank drafts which is where the bank itself guarantees the monies rather than the account holder (which could be part of the banking group too anyway) and they dont have an expiry date. They aren't just a cheque drawn on the banks own account though in presentation. 

Grizebeck

Irrelevant just get a new cheque issued

wmb194

DropZone said:

I have a cheque from Lloyds being a share dividend which I tried to pay into my TSB account but was rejected because it was dated over 6 months ago. As far as I was aware a cheque written by a Bank could not be rejected by another Bank as funds are guaranteed between Banks despite the date on the cheque being greater than 6 months ago. I was told by TSB the rejection was policy for all cheques dated over 6 months ago, however, their policy does not take into consideration who the cheque is from. Is there policy missing Bank to Bank guarantees?

If it's a share dividend this won't be a cheque from Lloyds but rather from its share registrar, Equiniti.

Call Equiniti to have it reissued or better still give it your account number and have it and all future dividends transferred electronically.

Brie

Have you tried depositing it through an ATM rather than via bank counter?  Or even via the post office?  Automated systems are less likely to be bothered by the date.  And as far as I'm aware the idea of 6 months making a cheque stale dated is a fallacy.  

wmb194

Brie said:

Have you tried depositing it through an ATM rather than via bank counter?  Or even via the post office?  Automated systems are less likely to be bothered by the date.  And as far as I'm aware the idea of 6 months making a cheque stale dated is a fallacy.  

Technically cheques don't expire but for many decades it's been industry practice to refuse to process cheques older than six months.

cannugec5

I have certainly had cheques refused after 6 months. Was only a small one, but had been mislaid. 

I don’t think it’s a fallacy at all. 

Luckily these days I can deposit a cheque into my Monzo Account using the app. 

xylophone

https://www.comparethemarket.com/current-accounts/content/how-long-are-cheques-valid-for/

How long are cheques valid for?

Technically speaking, cheques don’t have an expiry date. But, in practice, banks will usually reject a cheque if you try to pay it in or cash it more than six months from the date of issue – that’s the date written on the cheque. If you’ve forgotten about a cheque and it’s more than six months old, the best thing to do is ask the person who gave it to you to write another.

Hoenir

Standard practice is for many organisations to place a "stop" on uncleared cheques once they reach 6 months old.