Cheque Clearence

[wykikitoon 19807]

I have paid a cheque into my bank. Although the fund are in there I have been told by a couple of people it can still bounce. How long should I wait to send the goods off?

[Jusoda Kid 1]

When you can draw the money from the machine

[Sima 0]

People still use cheques?

 

Hells teeth.

[Ayatollah Hermione 13762]

People still use cheques?

 

Hells teeth.

 

He might have recieved a generous donation.

[WubbleUC 0]

I have paid a cheque into my bank. Although the fund are in there I have been told by a couple of people it can still bounce. How long should I wait to send the goods off?

 

Until it's 'cleared' would be best. That's when your available balance matches your actual balance.

 

Basically, say you had £25 in the bank, and then you got a cheque for £50. When you pay the cheque in, your actual balance will be £75, but your available balance will still only be £25 and it will remain that way until the cheque has cleared. That usually takes about 5 working days (Mon-Fri) maximum. I think it's normally 3.

 

Once it's cleared that's it, it's yours.

[Jill 0]

5 or 6 working days to be sure.

[wykikitoon 19807]

Cheers guys

[Rob W 0]

should be no longer than three days - and they are about to change it to 24 hours................