My bank have screwed us over-is this a normal thing to do?

[Wisp]

Bastard bank!
Cashed in a much needed cheque last week, it was also a Lloyds cheque, and cashier said it had cleared and was in the account. I go outside and look at cash machine, and it's there and we are almost back in credit.Thank God.

DH rang me earlier, had his card declined when buying his lunch, checked out a cashpoint and it said £xxx overdrawn, £0 funds available, out overdraft limit is 4 times the amount it showed the balance as (Are you still with me!?)
I go to online banking and it says the same thing. We should still have a few hundred quid left to max out the overdraft.

So I desperately ring the bank thinking they have stopped our overdraft for being so skint, but he said the cheque hadn't cleared and will take 3-4 days.
so why the hell does it show as a credit gone into the bank last week?

Do banks do this, and is it allowed, as now we are screwed completely until next week, an I needed to do a food shop tonight

Ive never seen an amount credit our account when the money isn't actually there IYKWIM.
Any help appreciated!

I think they call this uncleared funds, it's there, but you can't have it yet. and you are right they are bastards.

Just to add, the Lloyds man told me that we are actually overdrawn past out overdraft now, as this cheque hasn't cleared. So surely they shouldn't be allowed to say we have the money already in the account, if it's not there.

Hope that makes it clearer. I'm confusing myself over this now I'm so wound up.

I've never known anything other than for the amount to show in the account but not be available for a few days (3-7 days depending on which account I use) when you deposit a cheque. Was like it when I was a kid too.

My bank (natwest)do this as well. When you pay a cheque in it shows on your balance but isnt cleared funds.

Its weird,why confuse things like that! The cashier told me at the time it had cleared..grrr
So now we going to incur the fines for being overdrawn past our overdraft, something ridiculous like £15 per day, and we can't even draw out the cash to take the kids to the local fireworks display

Yes but surely if you put it in the bank last week it would be well cashed by now it's 7 working days max isn't it?

I had this with nationwide to nationwide, it hadn't cleared but showed as cleared then standing order went out later on same day & took me overdrawn.But it didn't show and got bounced back (and I got charged-got it back tho)

I think if it's a Lloyds to Lloyds payment it should clear instantly.

only if paid into the same branch of lloyds as the cheque.

Yep my mortgage payment direct debit has been bounced back too because of this. Ah so I might be able to at least get revenge by getting the charge back perhaps.Bet they eont pay the £28 my mortgage people charged for it though.

I'm going to start keeping cash under the farkin mattress from now on!

My bank always show cheques straight away, but they are not availble sometimes for up to 16 working days !

To defend the banks a bit here, there is a difference between cleared for interest and cleared for fate. Basically this means that the funds show (and you earn interest from this point) but they are uncleared, and could be returned (bounced) I think lots of people would complain if they used the funds thinking they had the money and the cheque subsequently bounced.

I used to have this problem when my wages were paid in by cheque by a dodgy company, the bank would clear the funds, I would lift the money, THEN the cheque would bounce !! Leaving me overdrawn, I was as angry at the bank for allowing me to withdraw the money as I was at my 'ex' employer !
I honestly don't know how this is allowed.