jkmanx Posted November 25, 2005 Share Posted November 25, 2005 I put a government check into my HSBC account on Monday morning and it hasn't cleared as of yet (5 days when its supposed to take 3). Does anyone know what’s happening here (I've heard its happened to a few others as well). Link to comment Share on other sites More sharing options...
Minxie Posted November 25, 2005 Share Posted November 25, 2005 Have you telephoned your branch to ask them about it? Link to comment Share on other sites More sharing options...
slinkydevil Posted November 25, 2005 Share Posted November 25, 2005 HSBC 0845 600 6161 - ask them first Link to comment Share on other sites More sharing options...
Declan Posted November 25, 2005 Share Posted November 25, 2005 It's not a three day clearing cycle anyway. Link to comment Share on other sites More sharing options...
The Godfather of Manx House Posted November 25, 2005 Share Posted November 25, 2005 ...Cheque clearing cycles are a total fucking joke. Just another excuse to wring money out of people. I fucking hate banks. Rant over... ...GOMH*... Link to comment Share on other sites More sharing options...
cheesemonster2005 Posted November 25, 2005 Share Posted November 25, 2005 It's not a three day clearing cycle anyway. It usually is though. Why, in the 21stc century, does one still have to wait 5 days for a cheque to clear surely the banks can speed this process up. I guess they can't be bothered because there's not much money in it. The Nationwide will let you have access to your money after 3 days even if it hasn't cleared. Link to comment Share on other sites More sharing options...
jkmanx Posted November 25, 2005 Author Share Posted November 25, 2005 I went in and as soon as I mentioned that it was a check I was going to query they asked me if it was paid in on Monday. They are supposed to be giving me a call back and they have offered me an overdraft if required. They also mentioned something about a bag not getting off the island on Monday due to weather and they wern't sure what had happend to the bag after that. Link to comment Share on other sites More sharing options...
Willy Wombat Posted November 25, 2005 Share Posted November 25, 2005 ...Cheque clearing cycles are a total fucking joke. Just another excuse to wring money out of people. I fucking hate banks. Rant over... ...GOMH*... How very true. Over here in Switzerland we just don't use cheques, it's all electronic. I transfer money around Europe in a few minutes, I do everything electronically. I can pay my staff in the UK from Switzerland and the money is in their account the same day, the transfer costs about GBP 1.50. Why exactly does the government use cheques - is the IOM a 3rd-world country? UK / Manx banking is a disgrace. Link to comment Share on other sites More sharing options...
Declan Posted November 25, 2005 Share Posted November 25, 2005 At least it's better than America's! There's no incentive on the banks to speed up the clearing cycle because they earn interest on the money in the meantime. Interesting question is why hasn't the UK regulator put pressure on them to. Link to comment Share on other sites More sharing options...
The Old Git Posted November 25, 2005 Share Posted November 25, 2005 Even electronic payments, either through BACS or just online from bank to bank still seem to take three days Link to comment Share on other sites More sharing options...
rallybug Posted November 25, 2005 Share Posted November 25, 2005 The Bills of Exchange Act 1882 meant that cheques had to be sent to the branch on which they were drawn. Reading the Deregulation (Bills of Exchange) Order 1996, it would *appear* that this is no longer the case, and that the required information can be passed electronically between the branches. I'm not a lawyer or involved in APACS, so couldn't say why the electronic version hasn't been taken on board. Link to comment Share on other sites More sharing options...
cheesemonster2005 Posted November 25, 2005 Share Posted November 25, 2005 The Bills of Exchange Act 1882 meant that cheques had to be sent to the branch on which they were drawn. Reading the Deregulation (Bills of Exchange) Order 1996, it would *appear* that this is no longer the case, and that the required information can be passed electronically between the branches. I'm not a lawyer or involved in APACS, so couldn't say why the electronic version hasn't been taken on board. $$$ GBP GBP GBP that's why Damn my bloody keyboard. If there was money in it, the banks would do it. When has a bank ever done anything for anyone without the possibility of financial gain. They're all bloody shite but at least in the British Isles personal banking is free. Here in Poland I have to pay a fee every month to keep the account open, I pay around 3GBP everytime I pay money in, I'm charged around 1GBP for most ATM withdrawals and charged around 15p if I want a receipt ('advice slip') for my withdrawal. Link to comment Share on other sites More sharing options...
AlexMcC Posted November 25, 2005 Share Posted November 25, 2005 £ Copy, Paste, Copy, Paste Link to comment Share on other sites More sharing options...
R_ReaVeR Posted November 25, 2005 Share Posted November 25, 2005 I went in and as soon as I mentioned that it was a check I was going to query they asked me if it was paid in on Monday. They are supposed to be giving me a call back and they have offered me an overdraft if required. They also mentioned something about a bag not getting off the island on Monday due to weather and they wern't sure what had happend to the bag after that. This is the same story I was told. They did add that the bag with the cheques was collected by another courier company, not their usual one, which is reassuring. I got the impression they have no idea, however, they did not advise me to have the cheques cancelled by their issuer, so I guess they are crossing their fingers and hoping they turn up soon. Link to comment Share on other sites More sharing options...
ans Posted November 25, 2005 Share Posted November 25, 2005 Cheque related, but not really worthy of its own thread http://www.scumpa.com/pipermail/humor/1995...ber/000852.html Long read, so go get a coffee. Link to comment Share on other sites More sharing options...
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