Re: Santander Cheque Clearance
I think that the bank have no right to hold on to your money for this extra length of time. I bank with Santander and if I bank a cheque say on Friday afternoon it would clear by the following Thursday. They should if what they are telling you is correct have made you fully aware of this fact when you deposited the cheque that if it was going to take longer to clear because of the size of it and extra security.
Unfortunely these days there is money laundering to take into account and the banks might have to if as what you say is a large cheque make certain that everything is legit.
You always have the right to make a complaint and if that were me I would have been on to the CEO of Santander to get to the bottom of this and I agree that they are using your money and earning interest, as I bet you are not receiving interest on this amount and they have had the extra use iof your money. I would also be seeking compensation.
The CEO's email addy Antonio.Osorio@santander.co.uk it seems Ana Patricia Botin is the new CEO of Santander UK. Botin will replace Antonio ... from 5th Novemeber 2010.
Last edited by TUTTSI; 20th November 2010 at 08:52:AM.
Please note that any advice given by me is from my own personal experiences and knowledge.
My site name is after General Tutts who who won a famous battle at Newbury many moons ago 1643 - I hope to win all my battles and will fight to the bitter end.