pslewis

2-4-6 Changes - came into effect yesterday:-

2 - The money from a cheque paid into a bank account will start to earn interest (or reduce the interest payable on overdrafts) after 2 working days.

4 - After 4 working days you will be able to withdraw this money (as long as the cheque was paid into a current account).

6 - And after 6 working days the cheque will have fully cleared in your account and cannot be reclaimed without your consent should the cheque bounce, unless you are a knowing party to fraud.

So if I were to pay a cheque into my current account on a Monday, by Wednesday it would be earning interest, by Friday I could withdraw the cash, and by the end of the following Tuesday I would be sure that the money was mine.

So, if you get a £60,000,000 cheque from Nigeria and the money is still in your account 1 week from paying in - you get to keep the money!!

Start placing adverts in the Nigerian Times NOW!!!!!

StickyMicky

sweet, we receive loads of payments via cheque, win, win situation