How long for a cheque to clear?

Question

I apologise if this is not on-topic for this group.

I wonder if someone can give a general answer to this question.

Based on your knowledge of the banking system, if you write a cheque out on a Friday and the person banks the cheque that day, when would the cheque normally be presented to your bank for the funds to be paid (ie when would the money normally be debited from your account)? If it helps the other persons bank is the Co-operative Bank and mine is the Halifax.

The reason for asking - I wrote a cheque out for my rent on Friday, which was banked that day and borrowed the money to pay into my branch today (Monday) to cover the funds only to find that my branch was closed today because the counter is being refitted. The branch re-opens tomorrow so the money will be paid in then but... will the cheque have been presented by then and I'll have a bouncing cheque? I'm hoping that it will be presented on Wednesday so that all will be well.

Can anyone put my mind at ease or otherwise?

Either way, thanks in advance.

Rob To reply by e-mail REMOVE the obvious!

Adrian Boliston · Accepted Answer

If the cheque is paid in Friday before 3.30pm it should clear on Tuesday at

12 noon I think. Probably best to phone your bank asap and ask them what's the best thing to do to avoid the cheque being bounced.

Ronald Raygun · Answer

Probably too late for that. Best to warn the landlord. Just tell him there has been "a mixup at the bank" as a result of which the cheque

*will* bounce. Apologise profusely "on behalf of the bank", and give him the cash instead of taking it to the bank, and tell him to tear up the cheque when it bounces.

Then go to the bank and see if they can waive the bouncing fee (and the stopping fee for the cheque you don't trust the landlord to tear up) because they were closed when they shouldn't have been, thus denying you the opportunity to pay in the cash urgently.

If they ask why you didn't pay the cash in at a different branch, collapse in a flood of tears, muttering "why didn't I think of that". By the way, why didn't you?

john boyle · Answer

In message , Adrian  Boliston  writes Nope. It should hit your account by opening time. Some banks let you have  until 15.30 to pay the dosh in to cover it.

Robbie · Answer

because the next closest branch is 8 miles away, I don't have a car and I get one hour max lunch break! To reply by e-mail REMOVE the obvious!

Ronald Raygun · Answer

So get a taxi.  A bloody rip-off at the best of times, but it would have been cheaper than having to deal with the consequences of a bounce.

How long for a cheque to clear?

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