instant cheque clearing

[font=Verdana, sans-serif][font=Verdana, sans-serif]Sort of, its called special or direct presentation. Here is some information from apacs.[/font][/font][font=Verdana, sans-serif][font=Verdana, sans-serif]
[/font][font=Verdana, sans-serif]
[font=Verdana, sans-serif]What is special presentation or special clearance?[/font]

[font=Verdana, sans-serif]To enable the recipient of a cheque to know as soon as possible whether it will be paid, they can ask their bank to specially present that cheque. Their bank then sends the cheque by first-class post directly to the paying bank, contacting them by phone on the following working day to confirm whether it will be paid. The payee may not receive the funds any sooner, but has the knowledge that there are sufficient funds to pay the cheque.
[/font]

[font=Verdana, sans-serif]Depending on who you bank with, depends on how much it costs. Most banks will send the cheque to the other bank by recorded or special delivery. So your guaranteed to get an answer the next day. [/font]
 
ok thanks all , I have a HSBC account and a cheque from HSBC themselves, not sure if that will clear fast being from the bank themselves.
 
BigBl00 said:
ok thanks all , I have a HSBC account and a cheque from HSBC themselves, not sure if that will clear fast being from the bank themselves.

If it is a HSBC cheque and you are going to a HSBC branch at the counter you can ask the person there to check whether there is enough funds for this cheque to clear. They obviously won't tell you how much money they got in their account but can tell you if they have enough, not sure if you can check whether the cheque has been stopped though. Also IIRC HSBC cheques which haven't been stopped and have enough money into an HSBC account clear instantly or same day IIRC. If you make a phone or internet transfer to from and to a HSBC bank they go straight away as well

HSBC's special presentation is a con really. I don't know it it has changed recently but I have had it a done a few times in the past and the people behind the counter tell you as well that more often than not it does not clear the cheque any quicker at all, all that happens is when it has cleared you get a letter or telephone call. When I ask what exactly is the point of that they just shrug their shoulders and don't know :rolleyes:
 
That's one thing that really irritates me, back home, a check cleared instantly. After all banks have insurance, so they aren't worried about the check being fake or forged. You can deposit a check and get the money out of the ATM right away. Heck, I even seem to remember once depositing a check into the ATM and taking money out at the same time.
 
Back
Top Bottom