Have you used lovetorecylce for mobile phones?

[Johnny|lucidcomposure]

http://love2recycle.com/Trader/Search.aspx

I can't be 100% sure on what I am about to say here but I sent away several mobiles to them. They posted jiffybags to me and processed my phones within a few days. One of which was a ££ return on. I got a £10 cheque from them and I put it in my bank. This was over a week ago now and it has not appeared in my bank account so far.
Do companies like this have cheques that take longer than say 3 working days to clear?
I am urgent to know as I have another handset I want to send away but I am just acting cautiously for the moment.

I emailed them asking how long it takes to clear and the're response was this.
"You will have to ask your bank as we do not know about the clearance times"

Any experiences

 

[Hairybudda]

It has to do with the bank, generally you'll get a 3-4 working day availability assuming no bank holidays however if you do not normally deposit cheques to your bank the cheque may take the full cheque clearance cycle which im sure you'll be able to google for.

[edit]
Assuming your bank adheres to the banking code this is probably relevent:
http://www.bba.org.uk/content/1/c6/01/15/79/APACS_consumer_cheque_leaflet.pdf

 

[The Halk]

The clearing cycle has been standardised with the 246 system.
Day 0 - You pay in the cheque
Day 2 - You start to get interest
Day 4 - You can withdraw the funds
Day 6 - The final fate of the cheque is known

Be aware that day 0 needs to be a banking day (not a bank holiday, monday to friday) and before (I think) 3.30pm. If not then day 0 is the first suitable day.

Some banks allow withdrawal on day 3, rather than day 4.
The final fate is known during day 6, meaning on day 7 you can be certain.

 

[Hairybudda]

The clearing cycle has been standardised with the 246 system.
Day 0 - You pay in the cheque
Day 2 - You start to get interest
Day 4 - You can withdraw the funds
Day 6 - The final fate of the cheque is known

Be aware that day 0 needs to be a banking day (not a bank holiday, monday to friday) and before (I think) 3.30pm. If not then day 0 is the first suitable day.

Some banks allow withdrawal on day 3, rather than day 4.
The final fate is known during day 6, meaning on day 7 you can be certain.

It is however worth noting the bank do not need to adhere to freeing the funds on the 3rd/4th working day, expecially if cheques do not normally hit the account. I know HBOS and Abbey/Santander at least randomly pull cheques for basically no reason and don't release the funds until after the 6th working day no matter how little or large.

 

[The Halk]

They should be adhering to it. I'd never heard that they weren't, other than cases of incompetence.

 

[Hairybudda]

Where you pay over the counter or by post (subject to the above)

Day cheque paid in Day interest begins Day we allow you to withdraw the money Day you can be sure the money is yours
Monday Wednesday Friday Following Wednesday
Tuesday Thursday Monday Following Thursday
Wednesday Friday Tuesday Following Friday
Thursday Saturday Wednesday Following Monday
Friday Tuesday Thursday Following Tuesday
Saturday Wednesday Friday Following Wednesday
Sunday Wednesday Friday Following Wednesday


Where you pay in via a cash machine

Day cheque paid in Day interest begins Day we allow you to withdraw the money Day you can be sure the money is yours
Monday Wednesday Monday Following Thursday
Tuesday Thursday Tuesday Following Friday
Wednesday Friday Wednesday Following Monday
Thursday Saturday Thursday Following Tuesday
Friday Tuesday Friday Following Wednesday
Saturday Wednesday Monday Following Thursday
Sunday Wednesday Monday Following Thursday


The timescales given in this table are for guidance purposes only and illustrate when we aim to make funds available to you.

That last line there in abbeys T&C (halifax made it impossible to find theirs online somehow) is basically what gets told to you when they extend clearance on a cheque (it's a fraud prevention thing).