When do Cheques Clear

Jonners132

I recently paid a cheque into my Nat West Personal account on line. A few days later the cheque had cleared and my account had been credited. I acted on it being cleared. A full day later Nat West reversed the payment and debited my account. Can they do this? 

born_again

Yes. Cheque could have been stopped at the other bank, either by who wrote it or it was a stolen cheque book.

retiredbanker1

Jonners132 said:

I recently paid a cheque into my Nat West Personal account on line. A few days later the cheque had cleared and my account had been credited. I acted on it being cleared. A full day later Nat West reversed the payment and debited my account. Can they do this? 

How did you pay it in?  Bank, Post Office or by taking a photo in the app?

How many days exactly did they take to debit your account back?

How much was the cheque for - was it from a private account or a company?

Jonners132

It was for £825 from a personal account. I paid it in on a Saturday ( photo of cheque via App).It cleared on the following Monday and the money was available in my account. It was then reversed on the Tuesday. By then I had committed the funds. The cheque was Nat West and it was paid into my Nat West account.

Jonners132

retiredbanker1 said:

Jonners132 said:

I recently paid a cheque into my Nat West Personal account on line. A few days later the cheque had cleared and my account had been credited. I acted on it being cleared. A full day later Nat West reversed the payment and debited my account. Can they do this? 

How did you pay it in?  Bank, Post Office or by taking a photo in the app?

How many days exactly did they take to debit your account back?

How much was the cheque for - was it from a private account or a company?

born_again said:

Yes. Cheque could have been stopped at the other bank, either by who wrote it or it was a stolen cheque book.

It was stopped because it was originally blank where the To field is. I added my name (as the payee expected and wanted me to do) and it was not honoured because of this. My gripe is that my account was credited a day before this.

gt94sss2

According to https://www.natwest.com/support-centre/help-with-your-product/cheques/how-long-does-it-take-for-a-cheque-to-clear-in-my-account.html a cheque paid in on the weekend (or Monday before 15:30) does not clear until Tuesday.

Hoenir

Jonners132 said:

It was stopped because it was originally blank where the To field is. I added my name (as the payee expected and wanted me to do) 

Why wasn't the payer capable of filling in the payee themselves. 

Jonners132

Hoenir said:

Jonners132 said:

It was stopped because it was originally blank where the To field is. I added my name (as the payee expected and wanted me to do) 

Why wasn't the payer capable of filling in the payee themselves. 

Because they were unsure of spelling so it was deliberately left blank.

boingy

How did they know the payee was originally blank?

retiredbanker1

I feel you have been unlucky. Normally cheques over £1000 are manually checked - whether it is a digital copy or  the original.

They did take the funds from you within timescales so no complaint can be made.

Get the drawer to transfer the funds to you?

Jonners132

boingy said:

How did they know the payee was originally blank?

I entered my name in a different colour and saw no need to disguise my writing. It wouldn't,t have been accepted if I left it blank.