How long do Coop Bank cheques remain valid?

[Angry Cat]

I am trying to ascertain what the time is that the Cooperative Bank will honour its cheques for?

APACS state:

"It is common banking practice to reject cheques that are over six months old to protect the payer, on the basis that payment may already have been made by some other means or the cheque may have been lost or stolen. However, this is at the discretion of individual banks. It should not be assumed that cheques in excess of six months old would automatically be rejected — the only certain way to cancel a cheque is to request that a stop be placed on it (although cheques backed by a Cheque Guarantee Card cannot be stopped). It is recommended that, if possible, customers in possession of cheques that are over six months old obtain a replacement. A cheque remains legally valid for six years."

Therefore, the legal view is that cheques remain valid for 6 years.
But, what is the position re the Cooperative Bank?
Would it honour a cheque after 4-5 years or, does it take the same view as other Banks, that after 6 months a new cheque would have to be presented?

Hopefully, someone can answer my query.

[Inca]

Re: How long do Coop Bank cheques remain valid?

I was always under the impression it was 6 months too

[Turboman]

Re: How long do Coop Bank cheques remain valid?

see also here

http://www.legalbeagles.info/forums/...ghlight=cheque

[Angry Cat]

Re: How long do Coop Bank cheques remain valid?

No, it is not 6 months but 6 years!
However, it is up to the discretion of each and every Bank/Building Society;
most will only honour a cheque for 6 months.
But not all take this stance and, I am trying to ascertain what view does the Coop Bank take?
Do they honour a cheque just for 6 months, anyone know?

Thanks Turb, but the cheque in question was only made out to me 4 years ago.

The cheque was sent to the wrong address 4 years ago, it is somewhere out there, in limbo. The cheque issuer stated that a further cheque cannot be issued as the original cheque could still be cashed.

[CleverClogs]

Re: How long do Coop Bank cheques remain valid?

The cheque was sent to the wrong address 4 years ago, it is somewhere out there, in limbo. The cheque issuer stated that a further cheque cannot be issued as the original cheque could still be cashed.

That is not correct, as the cheque was plainly not supported by a cheque card and hence payment could be countermanded.

On the other hand, the Co-op bank might not be in existence two years from now.

[Angry Cat]

Re: How long do Coop Bank cheques remain valid?

That is not correct, as the cheque was plainly not supported by a cheque card and hence payment could be countermanded.

On the other hand, the Co-op bank might not be in existence two years from now.

The cheque was issued by a Bank and a business cheque;
business cheques were not covered by the cheque guarantee card scheme. In any event the cheque guarantee scheme is no longer but was only guaranteed cheques up to £150.

Looks like I am going around in circles trying to resolve this...

[Angry Cat]

Re: How long do Coop Bank cheques remain valid?

http://www.chequeandcredit.co.uk/res...eque_clearing/

Is it true that cheques are only valid for six months?
No. A cheque is valid for as long as the debt between the two parties (i.e. issuer and payee) exists. In other words, cheques don’t have an expiration date. However, it is common banking practice to reject cheques that are over six months old to protect the payer, in case the payment has been made another way or the cheque may have been lost or stolen.
This timeframe is at the discretion of individual banks. It should not be assumed that cheques older than six months old would automatically be rejected – the only certain way to cancel a cheque is to request that a stop be placed on it. It is recommended that, if possible, customers in possession of cheques that are more than six months old obtain a replacement.
Where there is a dispute, a cheque remains legally valid in order to prove a debt for a period of six years, which is the Statute of Limitations.

[dogtired]

Re: How long do Coop Bank cheques remain valid?

That is not correct, as the cheque was plainly not supported by a cheque card and hence payment could be countermanded.

On the other hand, the Co-op bank might not be in existence two years from now.

Full page ads in the papers this week, Co op "selling" its insurance arm to Royal London.

[CleverClogs]

Re: How long do Coop Bank cheques remain valid?

Full page ads in the papers this week, Co op "selling" its insurance arm to Royal London.

I wonder if they'll get any "divi" on that.

[Angry Cat]

Re: How long do Coop Bank cheques remain valid?

Full page ads in the papers this week, Co op "selling" its insurance arm to Royal London.

http://www.telegraph.co.uk/finance/2...-policies.html
http://www.moneymarketing.co.uk/grou...067927.article
http://www.manchestereveningnews.co....urance-1761047

[Angry Cat]

Re: How long do Coop Bank cheques remain valid?

http://en.wikipedia.org/wiki/The_Co-operative_Bank

However, my payment remains in limbo...

All a bit of a mystery re: the Coop Bank and the timescale that they allow for their cheques to be cashed.
Perhaps, I'll give them a ring in the morning and ask them!?

[des8]

Re: How long do Coop Bank cheques remain valid?

So why doesn't the cheque drawer put a stop on the cheque, having first ascertained it has not been honoured, and then issue a replacement?

[Angry Cat]

Re: How long do Coop Bank cheques remain valid?

Okay, I have just spoken to the Cooperative Bank customer service department, who have advised that the timeframe they allow for cheques to be presented is 6 months.
And that if a four year old cheque was presented now the Coop Bank would not honour the cheque.

So now that part of the puzzle has been clarified. But of course, and IMHO, always best to ask each and every bank what their rule is, as it does appear to be at the discretion of individual Banks.

[Angry Cat]

Re: How long do Coop Bank cheques remain valid?

So why doesn't the cheque drawer put a stop on the cheque, having first ascertained it has not been honoured, and then issue a replacement?

Yes, that is what should have happened. But this matter has now dragged on for over 2 1/2 months and nobody appears to be able to rectify the problem. Mighty Corporations appear to be lacking in common sense...!

[des8]

Re: How long do Coop Bank cheques remain valid?

Try SHOUTING at the CEO?