Banked a cheque how soon before I know OK?

It will depend on your bank and to some extent the amount. They might call if it is a very large amount.

Have you asked them?

In message , Ken writes

On Wednesday get your bank to phone the drawee bank and ask if the cheque is 'paid'. Get them to ring the drawee and find out. Do NOT ask if it is 'cleared'. Did you take a note of the cheque details? If not, ring your bank now and ask them for the details (whilst they still have the cheque in the building), i.e. drawee, drawer, account number, amount, cheque number. Then give those details to your bank on Wednesday.

In answer to your final question your bank will normally only write to you if the cheque comes back unpaid which means you wont get it before Friday and possibly as late as Wed or Thur next week.

p.s. You may not be too late to get the bank to send the cheque for special presentation which means it gets posted to the drawee today. You should then get a definitive answer tomorrow, by phone. There will be a charge for this though. Ring your bank now and find if the cheque can be pulled out of the system and sent direct. This wont clear the cheque any quicker but you will know for sure if the cheque is paid or not.

NatWest my bank and the others bank. Amount just over 600.

Not asked them. Am I best to do so?

Ken

You ought to be able to get it retrieved from the clearings if its not a massive branch, then get it sent direct. Trouble is that whilst in theory the bank can ring up to find out the fate of a cheque after it has gone through clearing, in practice its not realistic. I know of occasions where collegues have tried but not any which have been successful (even one where the person at the other bank could only laugh at the idea...) - seems to be because its much more difficult to get the cheque back to examine since truncation.

Ian

John

Thanks for the full reply. I never usually get bad debts so have no experience of what I should do!!

Ken

"Cheque in this morning and just banked. If it is going to bounce how long will it take for me to find out. Will my bank write me or telephone me? "

Once the cheque has been paid is that the end of the matter or could the drawer have the transfer reversed later?

Robert

There is no guarantee that a cheque won't be reversed. Allow two weeks to be reasonably sure that it has been paid.

In message , snipped-for-privacy@gmail.com writes

Thats fair comment because there isnt another way of spotting technical irregularities other than by inspection.

In message , Robert writes

Yes.

No. (As an aside, and without wishing to be pedantic, it isnt a 'transfer', its a cheque.)