hoskib

iTrader: (1)

owed some money that has apparently been sent to my bank by his, but nothing has showed in my account. my question is:-

does it take 3-5 days to appear (cleared) in my account

or

will it appear straight away but i can't draw on it until it's cleared?

with lloyds bank if it makes any difference.

cheers

boxst

Hello

About 3 days.

Steve

hoskib

iTrader: (1)

cheers for the reply mate but is that 3 days before it will show in my account, at which time i can draw on it?

boxst

Hello

It normally takes 3 days to get to your account and then you can withdraw it.

Steve

hoskib

iTrader: (1)

cheers for the info

alcazar

iTrader: (2)

If it's a cheque, it's 3-5 days, but cash is instantaneous. I know as I've done two this week.

Alcazar

John Catlin

If I transfer cash from my account to my account, all at the the time.

If I transfer cash or cheque from my account to your account 3 to 4 days

RichS

I think it all depends on the payer's and payee's Banks and whatever proceedures they adopt.

3 days sounds about right for funds to be cleared following a transfer from one UK bank to another.

However it can be much quicker if the payer and payee's accounts are with the same bank.

In my own case, RBS acc -> RBS acc, the transfer is same day / instantaneous.

I'm not an expert on this however and I'm happy to be corrected...