To think that in this day and age, it shouldn't take so long for bank cheques to clear?

[flubdub]

As the title says basically ^
On Monday I put a cheque for a couple of grand into my bank and I'm relying on this money to replace my car. Until then, I am car-less with four children and two jobs (not easy!).
Anyway, I've not had or used cheques for years, so I just assumed the money wouldn't take so long to appear as it used to. But nope, it still takes 5 days.
I just thought that in this day and age and with the technology we've got, the cheque process still seems to take an eternity!
AIBU?

Yes, strange isn't it. Almost as if they have a vested interest in taking all that money for four days and investing it to make more money......

Yes, it’s ridiculous, but change is on its way.

www.chequeandcredit.co.uk/press-release/details-announced-introduction-faster-industry-wide-image-based-cheque-clearing-system

My bank is testing a system where you take a photograph of the cheque and it goes through on the image.

^. Ooh that's interesting, thanks.

I'm surprised by that actually. I thought they would be trying to phase cheques out eventually. I wouldn't have thought they were used very often now.

Change started in Oct 17 & should be rolled out by all backs by the end of the year.

Perhaps speak to cheque issuer & see if they can do bank transfer instead ......

at lloyds the machines take a picture of it? either way theres other ways to put money in your account fast

All new auto cheque paying in machines scan the cheque as a photograph, and most will credit uncleared into your account within 24 hours. If the cheque is issued by the same bank as your account is with, you will even be able to spend it.

@opionated
I'm with Natwest. There is a machine in the bank that I THINK takes a photo of the cheque, but my husband took it down to the bank while I was at work even though I told him not to and he won't have used it.

I would usually ask for a bank transfer instead of a cheque, but I was just sent it.

"All new auto cheque paying in machines scan the cheque as a photograph, and most will credit uncleared into your account within 24 hours."

Dammit I would have done that if I'd have known.

They should just get rid of the bloody things!

natwest dont do it supportcentre.natwest.com/Searchable/927987002/Cheque-Clearing-What-are-the-changes.htm
www.natwestinternational.com/nw/offshore-banking/current-accounts/g4/cheques/cheque-clearing.ashx

I have the B App, which has a feature allowing you to take a photo of the cheque. Funds clear next working day.

They should just get rid of the bloody things! i disagree when i had to give my children money for trips ect i always gave them a cheque