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Cheque money gone missing?

(5 Posts)
LadyAEIOU Thu 03-Nov-16 22:56:04

I received a refund from my old energy supplier (long story short had to chase up and only when I said I would complain did they then send cheque). I gave bank the cheque on the 31st Oct.

The money appeared in my bank account straightaway however my "balance available" today shows my account balance with the refunded amount deducted. It does not say where the money has gone but bit too coincidental that it is the exact amount I was refunded. Does this mean the company has cancelled the cheque? The old supplier is still keeping contact with us to make sure the refund issue is resolved as when they said refund was originally on the way we never received it.

I will have to wait until my transactions update tomorrow but was hoping for some insight as need this money given I'm on SMP and money is tight.

BeezerBubble Thu 03-Nov-16 23:02:20

Quite normal when you pay in a cheque, will take at least 3 working days to become available. If you have online banking you can normally find out when the cheque will clear.

LadyAEIOU Thu 03-Nov-16 23:03:52

Ooh thank you Beezer. I thought three days too and was surprised it appeared in my accoutn straight away just looks like the cash has vanished that's all. I might have read it wrong smile

BeezerBubble Fri 04-Nov-16 00:16:43

Aye, just be mindful balance doesn't mean cash available. Same thing in reverse when you pay by contactless debit card, takes a few days for that to show up.

cazzyg Fri 04-Nov-16 07:57:39

There's difference between the overall balance and you're available balance. The overall balance will include any uncleared items such as your cheque.

The money's not missing, it's just not cleared yet. Allow 3 working days for a cheque to clear.

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