Lloyds TSB to Lloyds TSB Cheque

Soldato
Joined
17 Mar 2005
Posts
4,042
Location
Home
Hi all,

If someone could clarify for me that would be great, we received a cheque last night and passed it across to Lloyds who have added it to our account.

She said that the funds are immediately available, do lloyds to lloyds cheques not require time before you can withdraw etc?

I sold a car basically so want to know if its safe to release the car to new owners.

Kind Regards
 

Pez

Pez

Soldato
Joined
20 Oct 2002
Posts
5,005
Location
Warwickshire
However, the cheque will still be subject to standard clearing process. So while you are given access to the funds immediately, if the cheque then gets unpaid at day 4 of clearing, your account will be debited again. You can avoid this by asking for special presentation which will get a fate quicker - there is usually a charge for this.

A house check (drawn and paid on the same sort code) will clear immediately.

Hope that helps.
 
Associate
Joined
18 Apr 2011
Posts
576
Bit silly to use cheques for selling cars noawdays. Just get online banking up on your phone and send it over. Much quicker, easier, and less prone to fraud.

Is it much less prone to fraud? Either way, I'd be waiting for the money to clear. It is quicker and easier though, I'd give you that, but if someone wanted to buy a car from me I wouldn't insist on it.
 
Soldato
Joined
27 Nov 2005
Posts
24,548
Location
Guernsey
Bit silly to use cheques for selling cars noawdays. Just get online banking up on your phone and send it over. Much quicker, easier, and less prone to fraud.
I heard a small rumor saying that not everyone in the world owns and uses a smart phone..
But that rumor maybe false and just started by some old drunk guy in a pub.....
 
Last edited:
Back
Top Bottom