How long does it take for a cheque to clear and can you fast track?

Question

I have just handed in a cheque to Barclays Bank for just over £1500 and asked them to Fast Track the cheque so it cleared quicker as it is for a car and they have just refused, even though there is a £15 charge to do so...

Can they refuse this and if so why? As I am willing to pay the £15 an it is my money, so why can't I have it cashed quicker.

Now they have refused, please can you tell me roughly when it will be cleared for?

Answer 1

it's different for different banks but it's normally 3-5 working days. and yes they can refuse to fast track it - when you joined the bank and set-up your account you signed a contract to say that you agree to their clearing times.

Answer 2

no more then 2 or 3 days. normally goes fairly quickly.  

Answer 3

The £15 fee is only to tell you if there is sufficient funds to cover the cheque, it doesn't make it 'clear' any quicker than normal. That's what I was told when I was paying in a large cheque, that it would still take 4 working days to be in my account.

Answer 4

2 3 days

Answer 5

it will usually take 7 to 14 days for a check over the amount of $500 to get off of RegCC hold... sorry it is standard proceure for most banks... they have to contact the bank that the money was drawn on to verify sufficient funds.

Answer 6

That is so ridiculous, usually it takes 3 -5 working days to clear a cheque, but I know here in Australia we can pay an extra $5 (15 pounds) to have it done quickly.

I don't know why they wont pass it, I would ask them why, since it is your account and your money, I cant see the problem.