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Just noticed that Abbey are changing their terms and conditions with effect from 1st July 2009. So now they are going take 5 days to clear a cheque. Instead of reducing the days they are going to keep our money one more day.
Banking - Terms and Conditions
Changes to our Abbey Bank Account Terms and Conditions
Excluding Basic and Instant Plus Bank Accounts
We are making the following changes to our Abbey Bank Account Terms and Conditions, which take effect from 1 July 2009,
Cheque Clearance Timescales
(please refer to clause 2.2.3 for full details)
We are changing the day you will be able to withdraw money on cheques paid into your bank account to bring us in line with industry standards. There is no change to when you start earning interest on your cheque.
If you pay a cheque into your bank account over the counter at an Abbey branch, the money will normally be available to you on the fourth working day after the day it is paid in. For example, if you pay a cheque into your account over the counter of a branch on a Monday the money will now be available for you to withdraw on the Friday rather than Thursday as at present.
If you pay a cheque into your bank account using an Abbey cash machine it will normally be available to you on the fifth working day after it is paid in. For example, if you pay a cheque into your account using the cash machine on a Wednesday the money will now be available for you to withdraw on the following Wednesday rather than the following Tuesday as at present.
The tables overleaf summarise when interest will begin to be earned, once your cheque has been paid in, when we will make money available to you, and when you can be sure the money is yours.
tried to add the summary on the back but it did not work.
Banking - Terms and Conditions
Changes to our Abbey Bank Account Terms and Conditions
Excluding Basic and Instant Plus Bank Accounts
We are making the following changes to our Abbey Bank Account Terms and Conditions, which take effect from 1 July 2009,
Cheque Clearance Timescales
(please refer to clause 2.2.3 for full details)
We are changing the day you will be able to withdraw money on cheques paid into your bank account to bring us in line with industry standards. There is no change to when you start earning interest on your cheque.
If you pay a cheque into your bank account over the counter at an Abbey branch, the money will normally be available to you on the fourth working day after the day it is paid in. For example, if you pay a cheque into your account over the counter of a branch on a Monday the money will now be available for you to withdraw on the Friday rather than Thursday as at present.
If you pay a cheque into your bank account using an Abbey cash machine it will normally be available to you on the fifth working day after it is paid in. For example, if you pay a cheque into your account using the cash machine on a Wednesday the money will now be available for you to withdraw on the following Wednesday rather than the following Tuesday as at present.
The tables overleaf summarise when interest will begin to be earned, once your cheque has been paid in, when we will make money available to you, and when you can be sure the money is yours.
tried to add the summary on the back but it did not work.
