Clearing cheques

[hammerman]

How long does your normal household bank account take to clear a standard cheque.

I bank with Lloyds TSB and i've just put a cheque into my account (friday) and i'm told it won't be available for cleared funds until next thursady.

Is this correct ?.....i'm sure they always seem to take a day longer than say Nationwide

[Ethel]

Nationwide is five working days. The banks and building societies make their own rules up, usually to our detriment.

It makes me spit that when I transfer money online from one bank to another, my money can disappear into cyber space for up to 10 days. Where is it?

A good article here:

http://money.guardian.co.uk/consumerissues/sto ry/0,14150,1257950,00.html

[spudqueen]

Standard practice hammerman. And can you believe that it takes longer to clear a cheque these days than when I worked in a bank in the 1980's!! It will take longer to clear a cheque if you bank at a non-clearing bank as they still have to pay the cheques in at a clearing bank and wait until it is cleared.