Cheque

[vernonk]

If you pay a cheque into your bank account in the UK, how long does it take to clear?

[TheWinner]

Usually three working days.

[dmbhunt]

When I worked for a bank it was three and a half days ie not before midday on day four so if you paid in on Monday you could drawn after noon on Thursday. As far as I know it is at least three days as you pay it in Say Monday and it goes off to clearing (where all the banks exchange their cheques) reaching there Tuesday (by courier) and day three Wed it reaches the other bank/branch.

[mikey4444]

Far too bloody long !

[guilliebrougues]

If you pay for special clearance, it can be cleared in24 hours I am told.

[RATTER15]

It can take up to 5 days.

[Buenchico]

Different accounts have different clearing periods but around 4 working days is fairly common.

Examples:
http://ask.barclays.co.uk/help/day2day_banking/cashcardclearing
and
http://www.rbs.co.uk/personal/current-accounts/g2/cheques/clearing.ashx

Chris

[Baldric]

Far too long from where I'm looking!

[RATTER15]

guilliebrougues
"If you pay for special clearance, it can be cleared in24 hours I am told."

I believe the cheque can be cleared in that time but that is not to say they will let you draw against it before the usual time, I think they just cheque that the money is in their account.

[RATTER15]

I think they just "check" that the money is in their account.

[guilliebrougues]

Ratter, it depends what you need the money for. It is worth asking if you can draw from it. After all you are paying for special clearance so obviously need to draw from it.

[March-Hare]

If you bank with the same bank the cheque is drawn on then there is a chance it will effectively be banked as cash ...... this happens at LTSB when I bank a LTSB cheque.

[EvianBaby]

I've always been told (very recently) that cheques can not be cleared any quicker than the banks normal time frame (which was always 5 working days from Barclays), even if you paid a fee.

[gingejbee]

Cheque? What's a cheque?

[sandyRoe]

Here's an example of a scam involving cheques.

http://www.scamwatch.gov.au/content/index.phtml/tag/ChequeOverpaymentScams

[Peter Pedant]

Far too long
If you pay in Monday,you can usually rely on it on Friday.

Sandy Roes post I think is useful

The larger the cheque - the longer you should wait -

[FredPuli43]

You cynic,PP ! Surely you are not suggesting that a bank sits on the bigger sums longer than it does small ones? Now, how would they benefit from doing that? (Answers on a postcard please) Strange isn't it? They have interbank payments in your account within a couple of hours.