cheque

[filthiestfis]

I dropped a cheque into my account yesterday, and today I have checked my balance and its showing as gone in. The cheque was from another bank. Im surprised that its gone in so quickly, or has it? I want to make sure that the sender of the cheque is not still able to cancel it, or that the cheque wont bounce. Should I wait more days, or is the cheque definetly in now?

[Loosehead]

The amount is recorded but the money has not cleared. Often the banks show the money as being there when it is still in the clearing process. The cheque could still be stopped or bounced. If it's still there after 4 working days then I'll be clear.

[filthiestfis]

ok thanks. So it wont be cleared until tuesday or wednesday of next week?

[joannie10]

if I go into my statement online it will note beside the transactions 'funds available'

[bancodegaia]

It should clear on the 5th day

1st Day: cheque paid in to your branch
2nd Day: cheque received by clearing
3rd Day: cheque goes to bank and branch it was drawn on
4th Day: Clearing receive notification of cleared or declined funds
5th Day: Notification received by your branch who either clear the funds in your account or do not clear the funds and remove them from your account