follow up to "Cheque Express Clearance..."

Discussion in 'UK Finance' started by Troll Hunter, Dec 29, 2005.

  1. Troll Hunter

    Troll Hunter Guest

    On the 27th of Dec I posted a msg to ask when a cheque would be cleared....

    1) On the 23rd Dec I paid a cheque into my Halifax account a cheque worth
    £3000 issued by a account holder from te HSBC which happens to be in the
    same town I am.

    2) I paid £12 to get it expressed cleared instead of waiting for 7 working
    days

    3) The cheque was cleared and the cash is now ready as of 5pm today (29th
    Dec) and Im now £3000 better off!

    Im going to have a very happy new year's eve!
     
    Troll Hunter, Dec 29, 2005
    #1
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  2. Troll Hunter

    Tumbleweed Guest

    "Troll Hunter" <> wrote in message
    news:...
    > On the 27th of Dec I posted a msg to ask when a cheque would be
    > cleared....
    >
    > 1) On the 23rd Dec I paid a cheque into my Halifax account a cheque worth
    > £3000 issued by a account holder from te HSBC which happens to be in the
    > same town I am.
    >
    > 2) I paid £12 to get it expressed cleared instead of waiting for 7 working
    > days
    >
    > 3) The cheque was cleared and the cash is now ready as of 5pm today (29th
    > Dec) and Im now £3000 better off!
    >
    > Im going to have a very happy new year's eve!
    >


    Why 7 days? I've had money from cheques in 3 working days with Barclays and
    AFAIK thats the norm, isnt it?

    --
    Tumbleweed

    email replies not necessary but to contact use;
    tumbleweednews at hotmail dot com
     
    Tumbleweed, Dec 29, 2005
    #2
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  3. Troll Hunter

    Troll Hunter Guest

    "Tumbleweed" <> wrote in message
    news:...
    >
    > "Troll Hunter" <> wrote in message
    > news:...
    > > On the 27th of Dec I posted a msg to ask when a cheque would be
    > > cleared....
    > >
    > > 1) On the 23rd Dec I paid a cheque into my Halifax account a cheque

    worth
    > > £3000 issued by a account holder from te HSBC which happens to be in the
    > > same town I am.
    > >
    > > 2) I paid £12 to get it expressed cleared instead of waiting for 7

    working
    > > days
    > >
    > > 3) The cheque was cleared and the cash is now ready as of 5pm today

    (29th
    > > Dec) and Im now £3000 better off!
    > >
    > > Im going to have a very happy new year's eve!
    > >

    >
    > Why 7 days? I've had money from cheques in 3 working days with Barclays

    and
    > AFAIK thats the norm, isnt it?
    >


    Halifax isnt a bank... plus the bank holidays and xmas ect... my account is
    only a card cash account, not a full current acc.
     
    Troll Hunter, Dec 29, 2005
    #3
  4. Troll Hunter

    Tumbleweed Guest

    "Troll Hunter" <> wrote in message
    news:...
    > "Tumbleweed" <> wrote in message
    > news:...
    >>
    >> "Troll Hunter" <> wrote in message
    >> news:...
    >> > On the 27th of Dec I posted a msg to ask when a cheque would be
    >> > cleared....
    >> >
    >> > 1) On the 23rd Dec I paid a cheque into my Halifax account a cheque

    > worth
    >> > £3000 issued by a account holder from te HSBC which happens to be in
    >> > the
    >> > same town I am.
    >> >
    >> > 2) I paid £12 to get it expressed cleared instead of waiting for 7

    > working
    >> > days
    >> >
    >> > 3) The cheque was cleared and the cash is now ready as of 5pm today

    > (29th
    >> > Dec) and Im now £3000 better off!
    >> >
    >> > Im going to have a very happy new year's eve!
    >> >

    >>
    >> Why 7 days? I've had money from cheques in 3 working days with Barclays

    > and
    >> AFAIK thats the norm, isnt it?
    >>

    >
    > Halifax isnt a bank... plus the bank holidays and xmas ect... my account
    > is
    > only a card cash account, not a full current acc.
    >


    you did say 7 *working* days.

    --
    Tumbleweed

    email replies not necessary but to contact use;
    tumbleweednews at hotmail dot com
     
    Tumbleweed, Dec 29, 2005
    #4
  5. Troll Hunter

    Chris Guest

    "Tumbleweed" <> wrote in message
    news:...
    >
    > "Troll Hunter" <> wrote in message
    > news:...
    > > "Tumbleweed" <> wrote in message
    > > news:...
    > >>
    > >> "Troll Hunter" <> wrote in message
    > >> news:...
    > >> > On the 27th of Dec I posted a msg to ask when a cheque would be
    > >> > cleared....
    > >> >
    > >> > 1) On the 23rd Dec I paid a cheque into my Halifax account a cheque

    > > worth
    > >> > £3000 issued by a account holder from te HSBC which happens to be in
    > >> > the
    > >> > same town I am.
    > >> >
    > >> > 2) I paid £12 to get it expressed cleared instead of waiting for 7

    > > working
    > >> > days
    > >> >
    > >> > 3) The cheque was cleared and the cash is now ready as of 5pm today

    > > (29th
    > >> > Dec) and Im now £3000 better off!
    > >> >
    > >> > Im going to have a very happy new year's eve!
    > >> >
    > >>
    > >> Why 7 days? I've had money from cheques in 3 working days with Barclays

    > > and
    > >> AFAIK thats the norm, isnt it?
    > >>

    > >
    > > Halifax isnt a bank... plus the bank holidays and xmas ect... my account
    > > is
    > > only a card cash account, not a full current acc.
    > >

    >
    > you did say 7 *working* days.
    >


    Last time I looked Halifax was claiming to be a proper bank and a fully paid
    up member of APACS and the cheque clearing process in the guise of HBOS and
    is happy to talk a 3 days cycle for its current accounts; as far as I know
    it is a con to hang onto your money for as long as possible when you pay it
    into a savings account; ensuring they have it available for an extra 4
    working days before allowing you to draw on it;

    I got rather annoyed them when they tried to tell me a Halifax bank draft
    they had issued would take 7 working days to clear; when I questioned why as
    the funds had been taken from the funding account when it was issued they
    decided to verify the details (place of issue, amount, date, payee etc)
    against their computer system and credit the account with cleared funds
    immediately.
     
    Chris, Dec 29, 2005
    #5
  6. Troll Hunter

    john boyle Guest

    In message <>, Tumbleweed
    <> writes
    >
    >"Troll Hunter" <> wrote in message
    >news:...
    >> On the 27th of Dec I posted a msg to ask when a cheque would be
    >> cleared....
    >>
    >> 1) On the 23rd Dec I paid a cheque into my Halifax account a cheque worth
    >> £3000 issued by a account holder from te HSBC which happens to be in the
    >> same town I am.
    >>
    >> 2) I paid £12 to get it expressed cleared instead of waiting for 7 working
    >> days
    >>
    >> 3) The cheque was cleared and the cash is now ready as of 5pm today (29th
    >> Dec) and Im now £3000 better off!
    >>
    >> Im going to have a very happy new year's eve!
    >>

    >
    >Why 7 days? I've had money from cheques in 3 working days with Barclays and
    >AFAIK thats the norm, isnt it?


    A few things :

    The OP banks with Halifax who (aiui) levy an extra day or two before
    they regard the cheque as having cleared (i.e. they have got the money)
    and because they know the cheque could still be returned unpaid and they
    wont find our for another day or two. Not all banks take this attitude
    if they trust you..

    The OP confuses 'paid', 'cleared' and 'ability to draw against'.

    You are confusing Barclays agreement to lend you dosh against a paid
    cheque before it is cleared with the cheque being 'paid'.
    --
    John Boyle
     
    john boyle, Dec 29, 2005
    #6
  7. Troll Hunter

    john boyle Guest

    In message <>, Troll Hunter
    <> writes
    >3) The cheque was cleared and the cash is now ready as of 5pm today (29th
    >Dec) and Im now £3000 better off!
    >
    >Im going to have a very happy new year's eve!


    Which pub will you be in?
    --
    John Boyle
     
    john boyle, Dec 30, 2005
    #7
  8. Troll Hunter

    Tumbleweed Guest

    "john boyle" <> wrote in message
    news:8CHiz1O$...
    > In message <>, Tumbleweed
    > <> writes
    >>
    >>"Troll Hunter" <> wrote in message
    >>news:...
    >>> On the 27th of Dec I posted a msg to ask when a cheque would be
    >>> cleared....
    >>>
    >>> 1) On the 23rd Dec I paid a cheque into my Halifax account a cheque
    >>> worth
    >>> £3000 issued by a account holder from te HSBC which happens to be in the
    >>> same town I am.
    >>>
    >>> 2) I paid £12 to get it expressed cleared instead of waiting for 7
    >>> working
    >>> days
    >>>
    >>> 3) The cheque was cleared and the cash is now ready as of 5pm today
    >>> (29th
    >>> Dec) and Im now £3000 better off!
    >>>
    >>> Im going to have a very happy new year's eve!
    >>>

    >>
    >>Why 7 days? I've had money from cheques in 3 working days with Barclays
    >>and
    >>AFAIK thats the norm, isnt it?

    >
    > A few things :
    >
    > The OP banks with Halifax who (aiui) levy an extra day or two before they
    > regard the cheque as having cleared (i.e. they have got the money) and
    > because they know the cheque could still be returned unpaid and they wont
    > find our for another day or two. Not all banks take this attitude if they
    > trust you..
    >
    > The OP confuses 'paid', 'cleared' and 'ability to draw against'.
    >
    > You are confusing Barclays agreement to lend you dosh against a paid
    > cheque before it is cleared with the cheque being 'paid'.


    Am I? AIUI Barclays will let me draw up to £1000 against a cheque
    immediately its paid in. That would be the 'lending me the dosh bit (though
    it doesn't count as lending unless the cheque bounces). And AIUI normal
    clearing time for a cheque is 3 working days, eg when its 'paid'. Or is this
    incorrect?

    --
    Tumbleweed

    email replies not necessary but to contact use;
    tumbleweednews at hotmail dot com
     
    Tumbleweed, Dec 30, 2005
    #8
  9. Troll Hunter

    Tumbleweed Guest

    "john boyle" <> wrote in message
    news:IrI$...
    > In message <>, Tumbleweed
    > <> writes
    >
    >>Am I? AIUI Barclays will let me draw up to £1000 against a cheque
    >>immediately its paid in. That would be the 'lending me the dosh bit
    >>(though
    >>it doesn't count as lending unless the cheque bounces).

    >
    > No it is lending whether it bounces or not, at least for the few days
    > until Barclays get paid for it, which is day 3.


    What I meant re ' doesnt count as lending' is that I dont get charged
    interest on it unless it bounces even though technically the money isnt
    there straight away so if i paid in 1000 as cheque and immediately withdrew
    £1000 in cash, technically I owe them a grand for a few days.

    --
    Tumbleweed

    email replies not necessary but to contact use;
    tumbleweednews at hotmail dot com
     
    Tumbleweed, Dec 31, 2005
    #9
  10. Troll Hunter

    john boyle Guest

    In message <>, Tumbleweed
    <> writes

    >What I meant re ' doesnt count as lending' is that I dont get charged
    >interest on it unless it bounces


    Are you sure they dont charge you any ineterst? (Bear in mind they might
    not charge the interest until the end of the quarter)


    > even though technically the money isnt
    >there straight away so if i paid in 1000 as cheque and immediately withdrew
    >£1000 in cash, technically I owe them a grand for a few days.
    >


    --
    John Boyle
     
    john boyle, Dec 31, 2005
    #10
  11. Troll Hunter

    Tumbleweed Guest

    "john boyle" <> wrote in message
    news:...
    > In message <>, Tumbleweed
    > <> writes
    >
    >>What I meant re ' doesnt count as lending' is that I dont get charged
    >>interest on it unless it bounces

    >
    > Are you sure they dont charge you any ineterst? (Bear in mind they might
    > not charge the interest until the end of the quarter)
    >


    Positive..but I could be wrong of course :)

    --
    Tumbleweed

    email replies not necessary but to contact use;
    tumbleweednews at hotmail dot com
     
    Tumbleweed, Dec 31, 2005
    #11
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