From: "Eric Jones" 
Newsgroups: uk.finance
Subject: Re: 10 days to clear a large cheque?
Date: Sat, 11 Jun 2005 08:53:21 +0000 (UTC)


"Luap"  wrote in message news:42aaa415_2@x-privat.org...
> john boyle wrote:
>> In message <42a968ae$1_1@x-privat.org>, Luap  writes
>>
>>> Not wishing to sound rude, but how did an idiot like you come into such 
>>> money? Didn't it even occur to you to pay the extra fee (£10 quid?) to 
>>> have the cheque "fast-tracked"? Interest on that amount could be 50 quid 
>>> a day!
>>
>>
>> That only confirms the cheque is paid, it doesnt release cleared funds 
>> any quicker.
>>
>> Did it not occur to you to advise him that he cold have had the dosh TTd 
>> for £25?
>
>
> He asked about a cheque, not a TT. If I was giving advice, I'd have 
> advised letting me collect the cash and deliver it by hand (for a small 
> fee).
> I think you'll find that "express clearance" does release cleared funds. 
> You can draw cash on such a cheque.
> Lua

I think you'll find that "express clearance" does release cleared funds.
> You can draw cash on such a cheque.>>>>>>>>>>>>>>>>>>>>>>>>>>> I think you 
> are wrong! In fact I know you are wrong. If you don't believe me please 
> ask your bank for the written terms and conditions (which you are supposed 
> to get each time you ask for special presentation) which will show that 
> you do not get cleared funds any quicker. These T&C were printed to clear 
> up the confusion that if you pay to 'clear' a cheque then it is cleared 
> but it is only cleared to withdraw after it has been through the clearing 
> cycle. If in the past you have been able to withdraw funds immediately it 
> could have been for 2 reasons - firstly the cheque might have been drawn 
> on the same bank as where you bank and they could immediately debit the 
> drawer's account or secondly you had sufficient funds or creditworthiness 
> for your bank to allow you to make a withdrawal. In this case you would 
> have been charged.
Eric