Cashing a Coventry Building Society cheque. HSBC on cheque too?

captrico

I recently closed my late mothers Coventry BS account, and they posted me a cheque.  I bank with LLoyds but wanted to access the funds a bit quicker than waiting for 3 days for it to clear.

The cheque is made out to me, with Cov. BS and HSBC on the bank cheque. Its a little over 10K.  Will HSBC cash this at the counter, if i dont have an account with them? Or will i have to run it through my LLOYDS account and wait?   Or will LLOYDS allow immediate access to the funds since its a bank cheque?  There is no Cov. B.S. near me so i cant go there.  

I tried calling both banks (Lloyds/HSBC) on Sunday and i got customer service in Africa & India and very little help, other than visit the branch in person and ask them about it.      

eskbanker

captrico said:

I recently closed my late mothers Coventry BS account, and they posted me a cheque.  I bank with LLoyds but wanted to access the funds a bit quicker than waiting for 3 days for it to clear.

Why three days?

If you pay a cheque in pounds into your account on a Monday, you will see it in your account the same day. It counts towards any interest and you can use the money on Tuesday by 11:59pm at the latest.

https://www.lloydsbank.com/help-guidance/legal-information/current-accounts/cheque-clearing.html

grumpy_codger

I'm no expert, but in this recent thread someone said that a cheque needs to be cleared before you can get cash - How to uncross a cheque

If so, the only way is to deposit it to your account first.

captrico

eskbanker said:

captrico said:

I recently closed my late mothers Coventry BS account, and they posted me a cheque.  I bank with LLoyds but wanted to access the funds a bit quicker than waiting for 3 days for it to clear.

Why three days?

If you pay a cheque in pounds into your account on a Monday, you will see it in your account the same day. It counts towards any interest and you can use the money on Tuesday by 11:59pm at the latest.

https://www.lloydsbank.com/help-guidance/legal-information/current-accounts/cheque-clearing.html

I thought it was 3 days to clear cheques?  I can do an image deposit on my LLoyds App today rather than visit the branch.  I wanted to transfer 2K out of my LLOYDS to another account, so i wasnt sure how long till the funds would be available.  10K is a bit more than my normal deposits, so i wasnt sure. 

captrico

grumpy_codger said:

I'm no expert, but in this recent thread someone said that a cheque needs to be cleared before you can get cash - How to uncross a cheque

If so, the only way is to deposit it to your account first.

ok, well its not crossed.  Just issued to me.  CBS on the top left corner, HSBC centre top of cheque. I guess they use HSBC as a clearing bank?  

wmb194

captrico said:

grumpy_codger said:

I'm no expert, but in this recent thread someone said that a cheque needs to be cleared before you can get cash - How to uncross a cheque

If so, the only way is to deposit it to your account first.

ok, well its not crossed.  Just issued to me.  CBS on the top left corner, HSBC centre top of cheque. I guess they use HSBC as a clearing bank?  

It will be crossed: see the two vertical lines through the middle of the cheque.

Building Societies almost always have accounts with the big banks, I wouldn't worry about that.

captrico

wmb194 said:

captrico said:

grumpy_codger said:

I'm no expert, but in this recent thread someone said that a cheque needs to be cleared before you can get cash - How to uncross a cheque

If so, the only way is to deposit it to your account first.

ok, well its not crossed.  Just issued to me.  CBS on the top left corner, HSBC centre top of cheque. I guess they use HSBC as a clearing bank?  

It will be crossed: see the two vertical lines through the middle of the cheque.

Building Societies almost always have accounts with the big banks, I wouldn't worry about that.

Oh OK.  I was thinking horizontal lines. There is 2 lines and 'account payee' in small print vertical print.  I suppose i will just take to LLOYDS monday and deposit it.  Whats crossed vs uncrossed?  Still clears in a day or so right?

wmb194

captrico said:

wmb194 said:

captrico said:

grumpy_codger said:

I'm no expert, but in this recent thread someone said that a cheque needs to be cleared before you can get cash - How to uncross a cheque

If so, the only way is to deposit it to your account first.

ok, well its not crossed.  Just issued to me.  CBS on the top left corner, HSBC centre top of cheque. I guess they use HSBC as a clearing bank?  

It will be crossed: see the two vertical lines through the middle of the cheque.

Building Societies almost always have accounts with the big banks, I wouldn't worry about that.

Oh OK.  I was thinking horizontal lines. There is 2 lines and 'account payee' in small print vertical print.  I suppose i will just take to LLOYDS monday and deposit it.  Whats crossed vs uncrossed?  Still clears in a day or so right?

Cheques haven't come printed uncrossed for a great many decades and when they did people just drew the lines on themselves; being crossed just means that it has to be paid into an account in the payee's name. It makes no difference to clearing times. 

It's just a normal cheque; if it's below the deposit limit you can deposit it via Lloyds' phone/tablet app.

captrico

molerat said:

I very much doubt any bank would pay a £10K cheque to cash.

Yeah, i dont want to walk around with 10k cash.  Just have several things i need to do asap. I wont need all 10k but at least 1-2k for immediate use.  If its 24-48 hrs i guess i will wait. 

captrico

wmb194 said:

captrico said:

wmb194 said:

captrico said:

grumpy_codger said:

I'm no expert, but in this recent thread someone said that a cheque needs to be cleared before you can get cash - How to uncross a cheque

If so, the only way is to deposit it to your account first.

ok, well its not crossed.  Just issued to me.  CBS on the top left corner, HSBC centre top of cheque. I guess they use HSBC as a clearing bank?  

It will be crossed: see the two vertical lines through the middle of the cheque.

Building Societies almost always have accounts with the big banks, I wouldn't worry about that.

Oh OK.  I was thinking horizontal lines. There is 2 lines and 'account payee' in small print vertical print.  I suppose i will just take to LLOYDS monday and deposit it.  Whats crossed vs uncrossed?  Still clears in a day or so right?

Cheques haven't come printed uncrossed for a great many decades and when they did people just drew the lines on themselves; being crossed just means that it has to be paid into an account in the payee's name. It makes no difference to clearing times. It's just a normal cheque; if it's below the deposit limit you can deposit it via Lloyds' phone/tablet app.

Just shy of 11k.  Lloyds app says 10k limit. So i better take to bank Monday.  My mum making it difficult for me and having a laugh i bet. 

molerat

Pay in tomorrow and available to withdraw after midnight Tuesday.