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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

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Original poster

can you reassure me? Cheque clearing.

23 replies

lollapap · 27/05/2021 18:20

I know how silly this sounds but bear with me.

I had a huge breakdown in 2019 due to lots of horrible reasons. 2020 was not great either. I am finally feeling a little bit better but not able to function as I used to quite yet.

Over the last year while I have tried to recover I have been using savings to make up for the short fall in my (self-employed) earnings. Yesterday I withdrew some funds from my savings and deposited the cheque in my current account.. Barclays.

As I deposited the cheque the lady told me it would clear at midnight that night. I was suprised as I thought it took longer. I was also depositing very close to their branch closing time, ten minutes before.

The lady said to me "that should clear at midnight, as long as there are no problems." With my mental health not being great the seed was sown so to speak for me to start worrying.

Today I checked my account, money is not there. Ok. I called Barclays. The man I spoke to said the cheque is on the system but "not paid".

He said the lady in the branch should not have told me the cheque would have cleared by midnight. He was then just really vague and waffly.

After 40 minutes on the phone he said there WAS a problem with the cheque but we would not know what until the system updated tomorrow and until the reason was known there was no clear way forward. I asked at the end if there was a chance the cheque would just clear at midnight tonight and he said "I don't want to give you false hope."

I am really worried now.

This money can't just disappear can it? It can't get stuck, can it? I'm not bothered about when it clears really, just the idea that the transaction could somehow...fail?

It was a large amount (to me) that I withdrew.

It should clear tonight, right?

OP posts:

LubaLuca · 27/05/2021 18:24

Nothing will happen to the money. If the cheque is rejected for any reason it will be returned unpaid and you'll be informed by your bank.

Voomster953 · 27/05/2021 18:27

I thought cheques could take five days to clear? Are you sure she didn’t mean that it’ll be processed by midnight?

Elieza · 27/05/2021 18:29

My bank took three full days to clear cheques. I’ve never had a cheque clear the same or next day - ever.

TakeYourFinalPosition · 27/05/2021 18:32

The cheque was never going to clear before midnight last night if you deposited it near to closing time. Even the next day is unlikely; but possible.

If there’s a problem with the cheque; the money will return to the sending account and you’ll be able to sort it. Try not to worry.

ChazsBrilliantAttitude · 27/05/2021 18:33

Your post isn’t clear to me. You deposited a cheque drawn by you on a savings account you hold with another bank into your Barclays current account?

Image based cheque clearing usually does clear by the end of the next day if the cheque was paid in before 3:30pm. After 3:30pm it will be 2 days.

You won’t lose the money, it will either appear in your Barclays account or reappear in your savings account.

The cheque is in the system so there are records of each step so it will be possible to unpick the situation if a problem does occur.

MissConductUS · 27/05/2021 18:33

@Elieza

My bank took three full days to clear cheques. I’ve never had a cheque clear the same or next day - ever.

The only way this can happen is if the check is drawn on another account at the same bank. If not the scanned image of the check has to be sent out for further processing at a clearinghouse.

Bargebill19 · 27/05/2021 18:33

Three working days for a cheque to clear according to our bank. I make that Thursday, Friday and Monday. So it won’t clear until midnight Monday night /Tuesday morning.

Wouldn’t panic just yet.

Blossomtoes · 27/05/2021 18:34

It takes three days for a cheque to clear - God knows why.

americanBD · 27/05/2021 18:35

Totally misses point ^
Why did you transfer via cheque? Could you electronically transfer?

Back to thread.
I wouldn't worry, even if there is a problem the money will be in your original savings account

ChazsBrilliantAttitude · 27/05/2021 18:36

This should help
www.barclays.co.uk/ways-to-bank/mobile-banking-services/future-of-cheques/

Longdistance · 27/05/2021 18:36

I had my cheque clear after two days with nationwide even though they said by 6pm next day. It was another banks cheque

Original poster

lollapap · 27/05/2021 18:39

Thank you to everyone who replied. I also have never had a cheque clear as fast as that. It's just how the man said there was an issue and we had to find out what it was has really rattled me.

@ChazsBrilliantAttitude You have it right. I deposited after 3.30 pm so that might be it.

OP posts:

ChazsBrilliantAttitude · 27/05/2021 18:39

If you read the link I have posted the earliest it would be deemed cleared is 11:59 tonight but if you missed the branch cut off it could be tomorrow. Remember Monday is a BH so it might be as late as Tuesday.

Not all financial institutions are set up for image based cheque clearing and those may take longer.

beryltheperilrocks · 27/05/2021 18:47

ch q's used to clear same day if the accounts were both based car the same branch.

I don't understand your post. .are your savings in a current account? how did you withdraw the funds and then pay in a chq?

beryltheperilrocks · 27/05/2021 18:48

At not car.

Original poster

lollapap · 27/05/2021 18:48

@americanBD Previously the building society who deal with my savings could provide instant transfer after basic security checks (I had my passport etc). This time they wanted to see a bank statement from the account I wanted to transfer the money to and for that statement to be from within the last 30 days). I offered to go and get that as I live very close by but was assured that unless I needed the money that moment in time the cheque would be fine.

Thank you for your advice, I too am thinking the money would revert if there was an issue and then I would definitely do the instant version and be sure. I think I am just picking up on how things were said.

OP posts:

Original poster

lollapap · 27/05/2021 18:52

@ChazsBrilliantAttitude thank you Chaz, that all makes sense to me. I know this must sound daft but I heard "false hope" and just sort of panicked really.

OP posts:

beryltheperilrocks · 27/05/2021 18:53

It's very very unlikely that the cheque will bounce...we used to consider cheques issued by building societies as good as cash! I worked in banks for a long time

whataballbag · 27/05/2021 18:55

I get paid by cheque each week (don't ask 🙄)

If I put a cheque in before 3:30 on payday it'll clear at midnight the next day, so Monday before 3:30 clears around 11:59pm Tuesday. After 3:30 it counts that as being cashed the following day if that makes sense!!

whataballbag · 27/05/2021 18:56

And I also bank with Barclays :)

Original poster

lollapap · 27/05/2021 19:03

@beryltheperilrocks yes, I really didn't think anything could go wrong with it!

@whataballbag Ok, I had no idea about this 3.30 divide. That's really helpful, thank you.

OP posts:

littlepattilou · 27/05/2021 19:07

@lollapap I can understand a cheque taking 3 days to clear, although as a pp said, there is no reason why these days! But what problem was the woman on about? She said 'there is a problem!' What problem?

The pps are correct who say it's unlikely you will lose any money. The money will go into your bank account, OR back into your savings.

Original poster

lollapap · 27/05/2021 19:16

@littlepattilou She said it will clear at midnight as long as there is no problem. Which is basically what spooked me a bit. Then on the phone today the man was saying there was a problem, but he couldn't tell me what it was until tomorrow. Tbh he did waffle back and forth so in the end I said... could it just clear in time and then he said that comment about false hope

OP posts:

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