Urgent Help

**Amy**

I got paid by cheque yesterday (not good and i wasnt advised this was going to happen), and £180 worth of DDs go out tomorrow.

My bank wont help me (they have just told me that!).

Should i just cancel the DDs (if they go out they will get returned and i will get charged £25 per DD) or should i ask work if i can have £180 cash to pay into my account today?

If i cancel the DDs, what do i need to do to reinstate them??

Just when i thought i was getting in control of everything. :eek: :mad:

ibleedred

Can you not cash the cheque??? I know you would get charged a couple of percent, but would it be worth it?

**Amy**

ibleedred wrote: »

Can you not cash the cheque??? I know you would get charged a couple of percent, but would it be worth it?

I put it straight into my account yesterday.

x

ibleedred

Could you ask for a emergency overdraft on your account?

Sorry, I am probably asking dumb questions!

**Amy**

Dont be sorry, all valid questions, but my bank will not lend me any money.

I have just cancelled my DDs and it says "current payment being processed could not be stopped" so i guess im !!!!!!ed now! :rotfl: :mad:

redsquirrel80

Do you usually get paid by BACS or is this a new job and they just hadn't told you it was by cheque? If the former I would explain the situation to your employers and see if they can help out, they might be able to 'loan' you the cash so you can pay it in, and let you pay it back once the cheque is cleared. It's worth asking.

claireabelle_2

Are you with HSBC Amy? As one of my payments said that yesterday when i tried to change it! You can cross everything and hope the cheque clears - I have paid a couple into HSBC lately, one cleared next day and one the day after, even though they were from non-HSBC banks.
Failing that, could a mate or family member lend you it?

hypno06

Who do you bank with - if you paid the cheque in yesterday, then they will know by tomorrow whether it will clear or not, so their risk is minimal. When I have done this with my banks, they have allowed payments to go through because they know that the funds are there, just not credited to your bank.

this type of thing makes me mad because the banks CAN see that the money is there.....they just want to penalise us poor account holders.

Hold off panicking until tomorrow - you might be pleasantly surprised (I hope!)

tigzem

I agree with Hypno, they should honour the payments. I'm with HSBC and as long as they cheque is in the account (not officially) cleared then DD's are ok.

I get paid by chq too and it's a royal pain in the A*** :mad:

**Amy**

Thanks everyone

I have cancelled my DDs, as the bank assured me (HSBC) that they would definitely have to send back the DDs as the cheque wouldnt clear until Friday.

I am going to call people who the DDs are for and just assure them they will get their money on Monday (at latest).

Its a new job, hence getting paid by cheque, which is a pain, but hopefully next month it will be bank transfer.

When i explained this to my bank they didnt seem to care. Nice!

Anyway, hopefully panic averted.

xx

claireabelle_2

Bear in mind that monday is a bank holiday, too nice when you forget like I did!