Re: Can the bank ‘UNCLEAR’ cleared funds?
wow, it's been busy...
Amethyst,
I have no doubt that T= deposit at the post office so we have to agree to differ on that. on T=0 Raymond Cox says;
"(a) Depositing the cheque and branch processing: T
On, for example, the day of a transaction (T), the payee deposits the cheque at the branch of the collecting bank. Cheques may also be sent by post or, for a large business, be delivered directly to the processing centre of their bank. "
Also, as above the bank says payment "into account" will be delayed by up to 2 business days, that doesn't mean that T is changed, just that it takes longer to be paid into the account and instead of being able to withdraw the money on T=4 as you would if it were paid into a bank, you cannot withdraw the money until T=6. However, either way the second part of your quote shows that after 6 days it is cleared.
Also, if the telling point was the day it showed on the account then the 14th would only have been T=1 not T=2 and either way I
would not have been able to withdraw funds unless they were cleared.
Crazy Council, thanks for joining the thread but in some areas you are going over things that have been covered several times before (so I won't go over them) except for the issue of the bank staff. Are you saying that someone in the cheque clearing team would get his/her wages docked so I shouldn't carry this on for that reason? Also, at the time I took the money out I found it hard to believe that the money could be mine but what I had read by that time suggested it might be true, I thought the only way to answer the question was to test it out in the real world and, to my surprise, I found it was true that I could take the money out!!
Des8, I have read the (whole!) book on unjust enrichment and where issues are covered by contract they simply cannot be considered 'unjust', they can be enrichment but that is not a problem legally as I understand it.
I have nothing to say about issues raised about wrong-doing but my conscience is clear in my case.
thanks to all,
Nicola
- - - Updated - - -
Just saw your latest post Crazy Council but the bank did not ask for it back, they helped themselves at a time they were not allowed to, so I think that this might be their usual response,
wow, it's been busy...
Amethyst,
I have no doubt that T= deposit at the post office so we have to agree to differ on that. on T=0 Raymond Cox says;
"(a) Depositing the cheque and branch processing: T
On, for example, the day of a transaction (T), the payee deposits the cheque at the branch of the collecting bank. Cheques may also be sent by post or, for a large business, be delivered directly to the processing centre of their bank. "
Also, as above the bank says payment "into account" will be delayed by up to 2 business days, that doesn't mean that T is changed, just that it takes longer to be paid into the account and instead of being able to withdraw the money on T=4 as you would if it were paid into a bank, you cannot withdraw the money until T=6. However, either way the second part of your quote shows that after 6 days it is cleared.
Also, if the telling point was the day it showed on the account then the 14th would only have been T=1 not T=2 and either way I
would not have been able to withdraw funds unless they were cleared.
Crazy Council, thanks for joining the thread but in some areas you are going over things that have been covered several times before (so I won't go over them) except for the issue of the bank staff. Are you saying that someone in the cheque clearing team would get his/her wages docked so I shouldn't carry this on for that reason? Also, at the time I took the money out I found it hard to believe that the money could be mine but what I had read by that time suggested it might be true, I thought the only way to answer the question was to test it out in the real world and, to my surprise, I found it was true that I could take the money out!!
Des8, I have read the (whole!) book on unjust enrichment and where issues are covered by contract they simply cannot be considered 'unjust', they can be enrichment but that is not a problem legally as I understand it.
I have nothing to say about issues raised about wrong-doing but my conscience is clear in my case.
thanks to all,
Nicola
- - - Updated - - -
Just saw your latest post Crazy Council but the bank did not ask for it back, they helped themselves at a time they were not allowed to, so I think that this might be their usual response,
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