If someone has paid me with an HSBC cheque, and I have an HSBC bank account, how long will it take that money to be cleared into my account? Will it take the usual 3 - 4 days or is it immediate?
2006-11-21 08:32:47 · 11 answers · asked by Paula879 2 in Business & Finance ➔ Personal Finance
If your account is at the same branch then you should get value the same day. If the cheque is drawn elsewhere, it will take the usual 3 days to be paid by the paying branch and should be classed as cleared funds the next working day to allow for it being returned.
Its a load of crap that banks make a fortune out of the money being in the system as the customer gets credited with value on the same day that the payer loses the value from their account. However, if they dont give value after 3 days ie. most building societies, then they are the ones making the money. Don't confuse banks with building societies as banking provides one of the cheapest services to the public in UK. I have never paid any charges in 40 years and I am not rich, I just make sure the money is in the account.
PS if anyone wants to make sure they dont pay charges to First Direct - a subsiduary of HSBC then take out a cheap product with them. They are only trying to get rid of all the accounts with minimal balances that have sat there doing nothing for years and costing them money.
2006-11-21 20:56:21 · answer #1 · answered by Anonymous · 0⤊ 0⤋
It depends if HSBC use real-time banking, whereby an HSBC cheque paid into an HSBC bank account should clear same day. I work for another bank and our system clears other branch cheques same day.
However, banks cant tell you an exact time when a cheque will clear as even after the usual 3-4 days, the cheque may be cleared for interest purposes into your account, but it still could be returned unpaid.
2006-11-21 08:48:58 · answer #2 · answered by nicnacpaddywhack 1 · 0⤊ 0⤋
If your account and the cheque given are both located at the same branch the cheque should clear in 24 hours. Otherwise it will have to be processed through normal clearing and will probably take at least 3 working days. (possibly 4 or 5)
If you travel to the branch where the issued cheque account is held and pay it in there it may be quicker.
I do not work for HSBC but work for another high street bank and am assuming they use a similar process to us.
2006-11-21 08:39:06 · answer #3 · answered by angie 5 · 2⤊ 0⤋
The usual 3-4 days.
2006-11-21 08:43:36 · answer #4 · answered by mistickle17 5 · 0⤊ 0⤋
As long as YOUR bank is HSBC, it does not matter. You cannot deposit a check into an ATM that belongs to a bank that YOU do not have an account at. The bank that the check is written from is irrelevant.....it depends on the ATM of YOUR bank that matters. You might be in college, but you appear pretty clueless about how an ATM machine works.
2016-03-29 04:36:59 · answer #5 · answered by ? 4 · 0⤊ 0⤋
Still takes the usual 3 - 4 days I'm afraid xx
2006-11-21 08:40:32 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Still the usual three days, unless it's a special clearance
2006-11-21 08:37:05 · answer #7 · answered by Anonymous · 0⤊ 0⤋
Normal time I"m afraid.
You don"t think the bank will let you have your money straight away do you?
They put it with the rest of our money to earn interest for themselves.
I mean they only made £8.5 billion profit last year.
Greedy bastards!!
2006-11-21 09:58:06 · answer #8 · answered by researcher 3 · 0⤊ 1⤋
If Its A Cashiers Check Then It Will be held for up to ten days because they may be a possiblity o fraud, what were you paid for?
2006-11-21 08:42:30 · answer #9 · answered by Anonymous · 0⤊ 1⤋
try calling ya bank rather than asking a yahoo forum!!!!
2006-11-21 08:36:24 · answer #10 · answered by chrisclinker 2 · 1⤊ 2⤋