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The timescale I am taking is the certainty of fate as a starting point for cheque clearing. So that is T(transaction day/day you pay cheque into your account) +2(Interest) +4(taking money from the ATM) +6(Certainty of fate) for current accounts.
Cheque Paid Into Account
T-------------------- T+2----------------- T+4 ------------------------T+6
17/3........................19/3......................25/3...............................27/3
18/3......................20/3........................26/3................................28/3
19/3.......................25/3......................27/3.................................31/3
20/3.......................26/3......................28/3.................................1/4/08
Cheque clearance inwards(3 working days) is about when the earliest possibility of it hitting your account from when it is given to somebody else. There is ONE exception that you must be aware of; if the cheque and the credit is paid into the account opening branch and it is all the same, ie NatWest cheque Bishopsgate sort code, credit NatWest Bishopsgate, and paid into Bishopsgate Branch, then the cheque will clear overnight as it is all the same branch.
A minor note is on postdated cheque(bank reserves to pay/return the cheque if it is presented earlier than dated).
Cheque dated-------------------------Earliest date it will be paid FROM your account.
Monday 17th March 2008...............Wednesday 19th March 2008
Tuesday 18th March 2008..............Thursday 20th March 2008
Wednesday 19th March 2008..........Tuesday 25th Match 2008
Thursday 20th March 2008............Monday 28th March 2008
Cheque Paid Into Account
T-------------------- T+2----------------- T+4 ------------------------T+6
17/3........................19/3......................25/3...............................27/3
18/3......................20/3........................26/3................................28/3
19/3.......................25/3......................27/3.................................31/3
20/3.......................26/3......................28/3.................................1/4/08
Cheque clearance inwards(3 working days) is about when the earliest possibility of it hitting your account from when it is given to somebody else. There is ONE exception that you must be aware of; if the cheque and the credit is paid into the account opening branch and it is all the same, ie NatWest cheque Bishopsgate sort code, credit NatWest Bishopsgate, and paid into Bishopsgate Branch, then the cheque will clear overnight as it is all the same branch.
A minor note is on postdated cheque(bank reserves to pay/return the cheque if it is presented earlier than dated).
Cheque dated-------------------------Earliest date it will be paid FROM your account.
Monday 17th March 2008...............Wednesday 19th March 2008
Tuesday 18th March 2008..............Thursday 20th March 2008
Wednesday 19th March 2008..........Tuesday 25th Match 2008
Thursday 20th March 2008............Monday 28th March 2008
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