Returned Cheque ??

shazza1961

Hello guys,
dont know if this is being posted in the right place or not....

I had a new boiler fitted, the workman wanted a cheque not cash... (which i had already taken out the bank) any way, work done Monday ... cheque paid into there account yesterday and cleared from mine this morning ??

I thought it took 3 days for a cheque to clear....

This put me over my overdraft as i still had the cash in my bag... by the time i finihsed work to put the cash in the bank, the cheque had been returned..

Have i bounced a cheque :mad:

or have the bank realised the cheque should not have cleared already

Thanks for your help

confused

Boggles1234

It normally takes up to 3 days.

However, if the person you gave the cheque to banks at the same bank and branch as you it can be almost instant and if they bank with the same bank in the same local area it can be done almost straight away.

I have paid cheques from customers into the bank before and, if they are the same branch, they have cleared there and then.

debtmuncher

i agree with above...if both same bank then it clears straight away so need to be careful.

MarkyMarkD

The cheque has probably already bounced.

You shouldn't have paid him by cheque without the money being in the account! As you'd already got the cash you should have explained why you couldn't pay him a cheque there and then.

shazza1961

Oh no ... I have never bounced a cheque :mad:

Will they try to take the money again or not :mad:

Or will I have to phone the plumber and explain :mad:

Boggles1234

Make sure the money is in your bank account in case he does present it again (some businesses automatically try again).

Ring the plumber, explain what has happened and explain the money is there and it won't bounce again. You won;t be the first customer he has had that had a cheque returned.

MarkyMarkD

Agreed with Boggles.

Phone him, apologise, and ask him to represent the cheque.

Phone/visit the bank, grovel, and explain the situation and hope they don't charge you.

servalan

i received with my bank statement this morning and a leaflet about how payment are going to be made faster if the bank in question is part of the scheme . it says the 3rd party payment will be received by the payee almost immediately after leaving your account but sometimes upto 2 hours so if its part off these bank dont know who is but royal bank of scotland are then this may have happen

GeorgeUK

Also, if you are putting the money back in the bank, make sure to ask them if it will go in straight away as available funds. I remember paying cash into an account for my brother and being told it will take 3 days - yes, for cash.

MarkyMarkD

servalan "Faster payments" has nothing at all to do with cheque clearance. It relates solely to electronic payments such as standing orders and bill payments.