2007-06-26 02:49:16 · 14 answers · asked by Anonymous in Business & Finance ➔ Credit
Should be fine. If you're worried, just call your bank and tell them you wrote a chequ today for £X, you have a credit of however much coming in three days that will cover it and you want them to honour it. They will.
2007-06-26 02:52:00 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I work for a bank and most cheques take 4 working days to clear, although sometimes you my find that the funds can debit your account the day before the funds become available to the person receiving the cheque.
Did you post date the cheque? If you did, then depending upon who you bank with will depend on whether or not they'll except it before the date on the cheque. I know that who I work for we cannot accept a post dated cheque.
I would imagine you should be fine but I would suggest that in the future don't write a chq if the funds aren't there as you are paying for goods/giving someone money, that at the time of writing the cheque the funds aren't available. Which technically, you're not supposed to do.
It could be worth checking with your bank just to clarify the clearance times but from experience from having worked for two of the largest UK banks, if the chq does get presented early you could get charged and because of the situation and how the chq was presented you may not get the charge refunded or stopped.
Hope that this has helped
2007-06-26 03:45:11 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It takes 3 working days for a cheque to clear so even if they payed it in today, you will be alright. Some banks have even longer clearing times. Look in your cheque book to see if they have their clearing times, on mine it is printed on the inside cover, along with their telephone banking number. Give your bank a call just to check and put your mind at ease. Remember if you do go overdrawn or recieve bank charges you can now claim these back.
2007-06-26 03:02:53 · answer #3 · answered by enlightened goddess 4 · 0⤊ 0⤋
Should do, normally a 3 working day cycle for a cheque to pass through the clearing process.
2007-06-26 02:51:57 · answer #4 · answered by Mark C 4 · 0⤊ 0⤋
Should be OK (as beforer typically takes 3 days to clear), however if the person you gave the cheque to lodges it through the branch of the bank where you hold your account, it may be processed quicker.
2007-06-29 23:34:25 · answer #5 · answered by Lord Charlemount 3 · 0⤊ 0⤋
assuming they paid it in today they should get it on sat, the day after your money goes in. Most, but not all, banks require three full working days for a cheque to clear. If they pay it in tomorrow then it will prob be Monday when it clears.
2007-06-26 02:53:49 · answer #6 · answered by Mariaw04 2 · 0⤊ 0⤋
I am going to disagree. You might have a problem if the person presents the check to your bank for deposit in their account at the same bank. Those items, that do not have to clear the reserve system, clear in one business day.
I would concur with the advice to call the bank and explain the situation.
For the future, post dating checks are not illegal. For some reason people frown on the practice.
2007-06-26 03:02:37 · answer #7 · answered by caseysxyz 3 · 0⤊ 0⤋
It's all right , as saturday and sunday are not classed as working days , and a cheque takes three working days to clear , any way you whould still be ok ,
2007-06-26 12:51:37 · answer #8 · answered by Stephen A 4 · 0⤊ 0⤋
You should be fine, it take up to 5 to 7 days for the check to clear...
2007-06-26 04:45:14 · answer #9 · answered by shorty21 5 · 0⤊ 0⤋
it depends on when the other party present it, I havenever heard of a cheque that clears earlier than 3 days.
Just monitor your bank account.
2007-06-26 06:35:47 · answer #10 · answered by Rebz 5 · 0⤊ 0⤋