Interest on old cheque

[Bethchopp]

I have recently found an old cheque that was issued by the Woolwich Building Society (now Barclays) in 1998 (long story, but it was due to a burglary and bereavement that the cheque became lost). It's for over £1,800.00. My question is a general one: If a cheque has been issued by a building Society or a bank, but has not been cashed, because the funds are still kept in the organisations account, is it possible to claim interest on the amount and have a cheque reissued for the original amount plus any interest? An initial bit of research seems to suggest that it isn't possible, but as the funds have been earning revenue somewhere, can I successfully argue for the interest to be paid to me? Any advice is appreciated. Thanks.

[Diana M]

Re: Interest on old cheque

Why do you think it may be the building society's responsibility (so interest should be paid) for the fact that you didn't bank their cheque for all these years ?

What was the payment/cheque for?

If the cheque related to a savings account would tax have been an issue if you had 'received' the funds in 1998 instead of now?

Di

[Bethchopp]

Re: Interest on old cheque

Why do you think it may be the building society's responsibility (so interest should be paid) for the fact that you didn't bank their cheque for all these years ?

What was the payment/cheque for?

If the cheque related to a savings account would tax have been an issue if you had 'received' the funds in 1998 instead of now?

Di

Many thanks for your reply.

I don't think it's the building societies responsibility. I merely wondered if the funds would be eligible for additional interest to be paid, as they've not yet physically been drawn from the account and I assume (perhaps incorrectly?) that they may have been earning interest in the meantime. The funds did relate to a savings account, so tax would be involved. The payment was part of a deceased relatives estate that had apparently been withdrawn by the estates administrator. Unfortunately he was burgled and died during the burglary. We were aware that many items and documents were stolen at the time but were unsure what was actually tsken. This cheque has just come into my possession after it was found amongst other recovered items.

[des8]

Re: Interest on old cheque

If you can find an old copy of Woolwich T&C's I think you'll find that when the account holder orders a cheque the amount is removed from the account immediately.
As such it no longer earns interest for the original account holder.

Banks don't normally cash cheques over six months old, so as a matter of interest (no pun intended) have you yet discussed the matter with Barclays?
Is the original account still in existence (albeit now with Barclays)?

[Bethchopp]

Re: Interest on old cheque

Many thanks for your reply. I'm about to discuss it with Barclays but I thought I'd sound it out here before dong so, just in case there was any precedent or advice I could use to help. Seems alas that I will just have to accept the loss of interest.