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  • FIRST POST
    • Punmanuk
    • By Punmanuk 7th Jul 18, 11:29 AM
    • 45Posts
    • 1Thanks
    Punmanuk
    Lloyd's bank image cheque clearing
    • #1
    • 7th Jul 18, 11:29 AM
    Lloyd's bank image cheque clearing 7th Jul 18 at 11:29 AM
    If I get a take a photo of the front and back of a cheque on the Lloyd's app..does it literally clear the next day?
    Lets say I do it on Monday..
Page 1
    • agrinnall
    • By agrinnall 7th Jul 18, 11:43 AM
    • 21,420 Posts
    • 17,237 Thanks
    agrinnall
    • #2
    • 7th Jul 18, 11:43 AM
    • #2
    • 7th Jul 18, 11:43 AM
    Their website says this.


    How the Cheque Imaging process will work

    If you pay a sterling cheque 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.
    • Westie983
    • By Westie983 7th Jul 18, 7:24 PM
    • 4,610 Posts
    • 15,143 Thanks
    Westie983
    • #3
    • 7th Jul 18, 7:24 PM
    • #3
    • 7th Jul 18, 7:24 PM
    If I get a take a photo of the front and back of a cheque on the Lloyd's app..does it literally clear the next day?
    Lets say I do it on Monday..
    Originally posted by Punmanuk
    Yes thats right, there is a limit to the value of the cheque that you can pay in via this service - I believe its £500, with a maximum daily deposit of £1000.00

    Mobile Cheque Banking

    Westie983
    Save 12k in 2019 #10 Total (£16000)+£0/£12000 = 0.0%
    Sealed Pot Challenge ~ 12 #97 Total (£450)+£1/£500 = 0.20% ( x 11)
    Xmas 2018 £1 a Day #2 Total (£165)+£0/£365 = 0.00%
    Virtual Sealed Pot #1 Total (£1300)+£0/£1000 = 0.00%
    £2 Savers Club 2018 #16 Total (£1030)+£0/£2000 = 0.0%

    Total £1.00/£15865 = 2.00%
    I'm a Board Guide on Budgeting & Bank Accounts, Debt-Free Wannabe, Disability Money Matters, and Savings & Investments. I'm a volunteer helping the boards run smoothly, but I'm not a moderator, and do not read all posts. If you see an inappropriate/illegal post then email forumteam@moneysavingexpert.com
    • Ballard
    • By Ballard 7th Jul 18, 7:37 PM
    • 2,076 Posts
    • 1,954 Thanks
    Ballard
    • #4
    • 7th Jul 18, 7:37 PM
    • #4
    • 7th Jul 18, 7:37 PM
    I used this service for the first time last week. I paid a cheque in around midnight on Monday (effectively Tuesday) and the funds had cleared on Wednesday.
    I hate verisimilitude.
    • Punmanuk
    • By Punmanuk 7th Jul 18, 9:41 PM
    • 45 Posts
    • 1 Thanks
    Punmanuk
    • #5
    • 7th Jul 18, 9:41 PM
    • #5
    • 7th Jul 18, 9:41 PM
    Ballard, did you have to wait till 11:59 wed night or was funds cleared wed during the day?
    • Ballard
    • By Ballard 7th Jul 18, 10:35 PM
    • 2,076 Posts
    • 1,954 Thanks
    Ballard
    • #6
    • 7th Jul 18, 10:35 PM
    • #6
    • 7th Jul 18, 10:35 PM
    Ballard, did you have to wait till 11:59 wed night or was funds cleared wed during the day?
    Originally posted by Punmanuk
    I logged on during the day on and it was showing as cleared. I am pretty sure that I was at work so it would have been before about 5pm. Sorry but Iím really busy at work so canít be more precise. I do recall being slightly surprised that it had cleared.

    It might depend on the drawers bank I suppose. The cheque I paid in was drawn on Santander.
    I hate verisimilitude.
    • Armorica
    • By Armorica 7th Jul 18, 11:31 PM
    • 738 Posts
    • 553 Thanks
    Armorica
    • #7
    • 7th Jul 18, 11:31 PM
    • #7
    • 7th Jul 18, 11:31 PM
    The industry is currently running paper and imaging clearing on two different clearing cycles. Within a few months, all cheques should clear by the end of the next working day.

    At the moment, it'll be next day if you submit via mobile/image. And it'll vary if a traditional paper deposit over the interim period.
    • radoslaff
    • By radoslaff 11th Jul 18, 4:13 PM
    • 140 Posts
    • 50 Thanks
    radoslaff
    • #8
    • 11th Jul 18, 4:13 PM
    • #8
    • 11th Jul 18, 4:13 PM
    I sent the image of my cheque yesterday about noon and the funds are cleared now. So Lloyds app's working the way it should. Cheers.
    The journey of a thousand miles begins with one step.
    • AndyPK
    • By AndyPK 11th Jul 18, 5:42 PM
    • 3,381 Posts
    • 985 Thanks
    AndyPK
    • #9
    • 11th Jul 18, 5:42 PM
    • #9
    • 11th Jul 18, 5:42 PM
    do you email the image ?

    or use the app ?
    • jonesMUFCforever
    • By jonesMUFCforever 11th Jul 18, 6:05 PM
    • 25,316 Posts
    • 12,547 Thanks
    jonesMUFCforever
    do you email the image ?

    or use the app ?
    Originally posted by AndyPK
    Use the app.
    What goes around - comes around
    give lots and you will always receive lots
    • Dobbibill
    • By Dobbibill 11th Jul 18, 10:35 PM
    • 3,398 Posts
    • 4,379 Thanks
    Dobbibill
    I did this last Sunday, the App said it would be cleared by Wednesday but it was actually cleared Tuesday PM.
    I'm a Board Guide on the Energy, Student Money Saving, UK Armed Forces and
    Local Money Saving - Wales boards. I'm a volunteer to help the boards run smoothly, and I can move and merge posts there.
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    • pistonvalve
    • By pistonvalve 12th Jul 18, 10:11 AM
    • 183 Posts
    • 14 Thanks
    pistonvalve
    I paid a large cheque in to Lloyds and have been told it will be 4 days to clear - why
    • ColdIron
    • By ColdIron 12th Jul 18, 10:54 AM
    • 4,812 Posts
    • 6,328 Thanks
    ColdIron
    I paid a large cheque in to Lloyds and have been told it will be 4 days to clear
    Originally posted by pistonvalve
    Maybe a normal sized one would have been quicker
    • pistonvalve
    • By pistonvalve 12th Jul 18, 11:06 AM
    • 183 Posts
    • 14 Thanks
    pistonvalve
    Ah, missed out the word value!! Genuinely confused - I thought cheque clearance times had been reduced by the banks to midnight next day.
    • chelseablue
    • By chelseablue 12th Jul 18, 4:20 PM
    • 2,633 Posts
    • 3,058 Thanks
    chelseablue
    I've paid a cheque in recently on the Halifax app. Cheque was for £500

    Did it on Sunday and it was showing as available the next day.

    Must say I was impressed.

    I don't think Nationwide has quick clearing yet, I paid some cheques in at the branch on Monday and they will clear tomorrow
    Mortgage starting balance £231,000
    Mortgage after Year 1 £225,000
    Mortgage after Year 2 £218,000
    • agrinnall
    • By agrinnall 12th Jul 18, 4:34 PM
    • 21,420 Posts
    • 17,237 Thanks
    agrinnall
    I thought cheque clearance times had been reduced by the banks to midnight next day.
    Originally posted by pistonvalve

    You thought wrong then. Reduced clearing times have been introduced and are being trialled, but I would expect the vast majority of cheques to still need to go through the usual 2-4-6 clearing just now.
    • darren72
    • By darren72 12th Jul 18, 11:58 PM
    • 1,274 Posts
    • 289 Thanks
    darren72
    Does anyone know of any other UK banks currently allowing the deposit of cheques by scanning them in or taking a photo via an app ?
    • Hazzanet
    • By Hazzanet 13th Jul 18, 7:30 AM
    • 1,645 Posts
    • 927 Thanks
    Hazzanet
    Does anyone know of any other UK banks currently allowing the deposit of cheques by scanning them in or taking a photo via an app ?
    Originally posted by darren72
    Barclays, Clydesdale, Yorkshire.
    4358
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