I asked my bank how long a cheque would take to clear and got the following reply.......What would you do? Has anyone fallen foul of this by seding the goods too early!!?
A cheque takes three working days to go through the clearing system. On the fourth day the funds are available to draw against. A cheque can be returned unpaid anytime up until the eighth working day. So if you choose to withdraw, send funds or release goods before the eighth working day you do so at your own risk.
Please contact us if you require anything further.
Regards
Banking Enquiries.
who's buying someone from here? If its a regular I post once cleared, otherwise I wait 10 days and tell them that.
Bank transfer is the way forward now.
Don't think he is off here so may just have to wait the 10 days!!
Depends how much its for; if for bits and pieces i generally post the item on receipt of the cheque, silly I know but then I'm the trusting type.
If for a fair bit of money then I wait till the cheque has cleared but if for a lot then I might be tempted to email him that reply from your bank and ask I he doesn't mind waiting. At least then you can guage how pi$$ed off he is having to wait.
I tend to wait until it shows in my account, and then post.
Never had a cheque reversed.
I've sent items as soon as the person says they want it. So far every one's been honest but I guess i'll get caught out one day.
£1300.
Think I'll meet him half way and post it on Tuesday!!!
........I don't really mean meet him half way, he lives in Pembrokeshire!!!
I wait till it had definetly cleared for that amount of money. For stw I tend to just post when the chewue arrives or for regular posters after I have sent it as I knwo the postage cost ...would not risk that for £1300
PS remeber Monday does not count as it is a Bank Holiday
If he's genuine, he'll understand your concerns. I would, for example!