Express clearance on business cheque

[flump1]

Evening , Is there still a system whereby one can pay a fee and the cheque being paid in clears almost immediately? I remember something from some time ago but I am unsure how it works. I am owed monies and would dearly like the monies to be cleared as soon as possible, the day I pay the cheque in ideally. Is this possible?

[khana]

No Special Clearance which was previously available is no longer available for express clearance of funds.

It is still offered, but only to give you the fate of the cheque eg they will charge you a fee and then tell you if the cheque will clear, but still not give you immediate access to the funds.

[point&push]

Don't bother with it at all. The cheque is sent via the mail. You're at the mercy of the post after that. They don't even undertake to deliver next working day now for first class so you may still wait the three working days it would have taken to clear the cheque through the normal clearing system.

Better, if you trust the creditor that far, to give them your bank details and ask them to make a payment direct to your account possibly in cash at a branch of your bank local to them. Once the cash hits the account it can't be taken back. If they tell their bankers to generate a payment to your account it'll be cleared when it hits and won't be recalled after the fourth working day.

[flump1]

Thanks for your answers, sure clears up a few things !!

[angie1981]

express cheque clearance is not as good as it used to be. you're charged a fee to speed it up but you normally don't get an answer until the third day, your probably better just putting it through the normal system.

[flump1]

thanks angie, I will stick to waiting I reckon !