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| Thread ID: 135046 | 2013-09-18 21:13:00 | Cheques Clearance in Banks | bk T (215) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 1353814 | 2013-09-18 21:13:00 | I notice that when I deposit a cheque, it takes 3 working days for clearance before I could utilise my money; but, when I issue a cheque the bank deducts it the same day as the other party banks in the cheque. Is this the normal practice for all banks? I'm with ASB Bank. |
bk T (215) | ||
| 1353815 | 2013-09-18 21:32:00 | Yep - unless you have a facility like I have - auto clearance over night then the funds are available the next day. The down side is if the cheque bounces over the next few days that it would take to clear the funds are taken back by the bank. | wainuitech (129) | ||
| 1353816 | 2013-09-18 21:44:00 | Sounds normal. You still write checks? I haven't had a checkbook in several years now. | dugimodo (138) | ||
| 1353817 | 2013-09-18 22:06:00 | Sounds normal. You still write checks? I haven't had a checkbook in several years now.I've never had one, never mind that it costs me $3 to write one :p | pcuser42 (130) | ||
| 1353818 | 2013-09-18 22:09:00 | Oh yes, they certainly like to hold onto your money. A family member's tenants deposit their rent every Thursday night, yet a while ago the money never used to show until Monday. And if it was a holiday weekend the money wouldn't be in his account until Wednesday. Fortunately either the bank or the tenant has changed something because the money is now always available on Fridays, as it should be. | FoxyMX (5) | ||
| 1353819 | 2013-09-18 22:18:00 | Yep - unless you have a facility like I have - auto clearance over night then the funds are available the next day. The down side is if the cheque bounces over the next few days that it would take to clear the funds are taken back by the bank. Do they charge you for setting up this 'auto clearance over night' facility? |
bk T (215) | ||
| 1353820 | 2013-09-18 23:42:00 | Do they charge you for setting up this 'auto clearance over night' facility? Yep, its a monthly fee, cant remember how much but its very little, around $5 I think. | wainuitech (129) | ||
| 1353821 | 2013-09-19 00:26:00 | Thanks. | bk T (215) | ||
| 1353822 | 2013-09-19 00:36:00 | Sounds normal . You still write checks? I haven't had a checkbook in several years now . These days, it's almost instantaneous movement of funds on the internet, and even I want to inadvertently overdraw on my transaction account by eftpos, there's an informal limit that covers me . Credit card? I can instantly draw down a new limit should I need it . Beats the old dim dark ages . I haven't had a cheque book for over 10 years I think, and about the only thing they were useful for was if you wanted to float it for a while :horrified Back in my flatting days of the early 70's, me and my flatmates opened a Bank of NSW cheque account for the flat finances . I'm hazy now as to how we got the Bank to agree to it, but we did, and styled the account Rent A Stud duly printed on the cheques, which required two signatories . For a small donation to the flat beer fund in addition to the amount involved, we'd quite often write out cheques for friends who wanted to make payment with a Rent A Stud cheque . . . :lol: |
WalOne (4202) | ||
| 1353823 | 2013-09-19 02:44:00 | I notice that when I deposit a cheque, it takes 3 working days for clearance before I could utilise my money; but, when I issue a cheque the bank deducts it the same day as the other party banks in the cheque. I'm with ASB Bank. Funny, am I with ASB too. It takes 3 working days for our deposited cheques to show as "available" money but you sure can use it in the meantime...there are no restrictions on being able to access it straight away. |
pctek (84) | ||
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