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Cheque clearance inwards and outwards over the festive period

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  • Cheque clearance inwards and outwards over the festive period

    The timescale I am taking is the certainty of fate as a starting point for cheque clearing. So that is T(transaction day/day you pay cheque into your account) +2(Interest) +4(taking money from the ATM) +6(Certainty of fate) for current accounts.

    Cheque Paid Into Account
    T-------------------- T+2----------------- T+4 ------------------------T+6
    17/3........................19/3......................25/3...............................27/3
    18/3......................20/3........................26/3................................28/3
    19/3.......................25/3......................27/3.................................31/3
    20/3.......................26/3......................28/3.................................1/4/08



    Cheque clearance inwards(3 working days) is about when the earliest possibility of it hitting your account from when it is given to somebody else. There is ONE exception that you must be aware of; if the cheque and the credit is paid into the account opening branch and it is all the same, ie NatWest cheque Bishopsgate sort code, credit NatWest Bishopsgate, and paid into Bishopsgate Branch, then the cheque will clear overnight as it is all the same branch.
    A minor note is on postdated cheque(bank reserves to pay/return the cheque if it is presented earlier than dated).

    Cheque dated-------------------------Earliest date it will be paid FROM your account.
    Monday 17th March 2008...............Wednesday 19th March 2008
    Tuesday 18th March 2008..............Thursday 20th March 2008
    Wednesday 19th March 2008..........Tuesday 25th Match 2008
    Thursday 20th March 2008............Monday 28th March 2008
    Last edited by Nattie; 16th March 2008, 14:19:PM.

  • #2
    Re: Cheque clearance inwards and outwards over the festive period

    Bump on this one.

    Comment


    • #3
      Re: Cheque clearance inwards and outwards over the festive period

      Ignore post 1 and 2 cos they are irrelevant now.
      Thanks you Enaid cos I got this link from it and road tested it
      This will give you cheque clearance over the festive period and beyond.
      Cheque and Credit Clearing Company - Cheque checker

      Comment

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