jono300

iTrader: (8)

Just received a building society cheque for something I have recently sold, just wonder how long these type off cheques take to clear compared to an ordinary personal cheque ??

cheers,
john

Old Farquar

I had one recently and it said on it somewhere words to the effect of treat as bankers Draft. If that's the case it should be as good as cash in your hand.

scooby_me

iTrader: (1)

it depends....

if its hand written its the same as any old cheque 3 working days...

however if its a COUNTER cheque probably printed THEN its as good as cash as they only write them if the funds are in the account... once the counter cheque is written the funds are put in a temp account until you present the cheque (so they money is in theory gone from the persons account so they cant spend it)..

sorry if this is confusing


Darren

jono300

iTrader: (8)

Thanks guys appreciatte the advice, the cheque is typed out so you thats fine.

cheers