Clean It Up
UK Window Cleaning Forum => Window Cleaning Forum => Topic started by: Andy Prittchard on October 07, 2011, 07:41:09 am
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Anyone else find it a PITA that cheques take about six days to clear with this outfit?
Seriously thinking about changing accounts.
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5 days mine take with Santander and also include Saturdays, along with no charges each month, I'd say Santander are quality compared to others I have banked with.
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It doesn't take that long, they delay putting it into your account. Even electronic transfers that should be instant take several days.
Think how much money they are holding on to by delaying everybody's credits. There is no such thing as free banking, they just "charge" you in a different way.
Its inconvenient but its better than having to shell out hard cash in Bank charges
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No Vince. I know what I get charged each month thankyou.
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is it true that building societies are ok with paying in lots of cheques? i say that as i pay plenty in at nationwide and they say nothing (personal account) but at hsbc and halifax they get shirty with me . my mate reckons halifax is a bank but i thought its a building society
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Anyone else find it a PITA that cheques take about six days to clear with this outfit?
Seriously thinking about changing accounts.
I find that the cheques clear on the same day of the week that I put them in - but a week later obviously. This assumes that I deposit them before somewhere around 7 or 8 PM when the daily updating starts. e.g. If I deposit cheques at 6 PM on Wednesday, they will normally be cleared by 9 AM the following Wednesday. In this example, it's only 4 clear working days which isn't bad really. However, if I delay a couple of hours or so and make the deposit at, say, 9 PM on Wednesday, they probably won't be clear until 9 AM Thursday. Bank holidays will affect it too of course. Part of the delay is caused by them not accepting cheques over the counter.
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With NatWest, my balance is updated same day
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Santander 'credit' your account very quickly i.e. if I pay in at a Post Office the transaction might take a couple of days to show but is backdated to about a day after pay in (to be expected as payment has been posted).
It will take about 4-5 banking days for the account balance to be updated once the cheques have cleared.
Seems reasonable to me :)
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james, what vince is saying is that santander earn interest on your money whilst they take 5-6 working days to credit your account with the value of the cheque.
In other good news, internet transfers are going to have to arrive no later than 1 working day as of january
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I am with the Halifax and if I try to pay a few cheques in they get very funny so now I put them in the envelope through the letter box, Never have a problem now. My cheques seem to clear very quickly.
No Charges for me ;D ;D ;D ;D ;D ;D
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It doesn't take that long, they delay putting it into your account. Even electronic transfers that should be instant take several days.
Think how much money they are holding on to by delaying everybody's credits. There is no such thing as free banking, they just "charge" you in a different way.
Its inconvenient but its better than having to shell out hard cash in Bank charges
Actually I find that electronic transfers are instant for me, often I go home and check my online banking and find that some of the customers I did that day have already credited my account.
Personally I wonder on how much of the problems people have stem from what the staff at your local branch are like. Ive been to branches where the staff just dont seem bothered, they often have the whole 'computer says no' attitude on things I know Ive had done elsewhere.
As regards cheques taking ages to clear, Santander just uses the 2-4-6 standard set by the C&CCC that manages all cheque clearances in the UK. If some banks offer faster clearances its not because theyve received your money, its because theyve decided out of the goodness of their heart to 'lend' it to you for a day while they are waiting for the cheque to clear. Of course, if the cheque then bounces, they'll nab it back off you quick, probably along with a hefty fee.
Where an extra day gets added is from the fact that you have to deposit via the ATM as has been said, which means the whole cheque clearing process is delayed by a day, cos the staff empty the ATM at the end of the day, i.e. the same as putting it in over the counter after the cutoff time, 3.30pm or whatever it is.
Basically, to get your cheques faster, Santander need to start dealing with business accounts over the counter. Personally, if I had to deal with some of the cretins staff Ive heard about, I know which option Id prefer...
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the thing you got to check is it a proper branch or a satellite branch, we have a lot of satellite branches in cornwall and they usually take a extra day to do any thing
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A mate of mine worked at a bank clearing centre and he said all cheque are cleared on the same day the go in. He said they could not go home till was down art the end of the day. its true the banks make money out of this delay.MY CHEQUES APPEAR ON MY ACCOUNT THE SAME DAY.But the cash is not available for 3/5 days.
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My bank got a bit shiity about all the cheques I was paying in until I said I have a santandair account as well. That seemed to shut them up
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Well done Vince thats what the banks need to here.They are not indispensable.