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Lloyds TSB to Lloyds TSB Cheque

Discussion in 'General Discussion' started by Walkerie, Aug 22, 2013.

  1. Walkerie

    Mobster

    Joined: Mar 17, 2005

    Posts: 3,698

    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
     
  2. tom_e

    Man of Honour

    Joined: Dec 26, 2003

    Posts: 23,733

    Location: West mids

  3. Walkerie

    Mobster

    Joined: Mar 17, 2005

    Posts: 3,698

    Location: Home

  4. Westyfield2

    Capodecina

    Joined: Dec 14, 2005

    Posts: 12,505

    Location: Bath

  5. Pez

    Mobster

    Joined: Oct 20, 2002

    Posts: 4,772

    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.
     
  6. Hamish

    Mobster

    Joined: Apr 14, 2003

    Posts: 4,952

    Location: Deepest Yorkshire

    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.
     
  7. httk

    Hitman

    Joined: Apr 18, 2011

    Posts: 571

    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.
     
  8. chaparral

    Capodecina

    Joined: Nov 27, 2005

    Posts: 16,628

    Location: Guernsey -channel islands

    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: Aug 22, 2013


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