Cheque Clearing times.
We promised we'd give you at least seven days notice before the new two-day cheque clearance service is available in all our branches. Great news, from 31 March 2019 all our branches will be able to process your cheques within two working days.
Paying in cheques at a TSB branch.
When you pay your cheque in at a TSB branch your cheque will clear on the new two-day service.
So, if you pay in a cheque by closing time on a Monday, it will clear as shown below.
|When will it show in your account?||After you've paid it in, when will it earn interest or reduce the interest you're paying?||When can you use the money?||When can your cheque be returned unpaid after you've paid it in?|
|Monday||Tuesday||By 11:59pm on Tuesday||Up to 4pm on Tuesday|
If you pay in your cheque at a deposit cash machine outside of branch opening hours, it will take an extra day to clear.
Paying in cheques at a Post Office.
If you’re paying a cheque in at the Post Office, your cheque will take a day longer to clear than at one of our branches.
So, if you pay your cheque into a Post Office branch before 4.30pm on a Monday, it will clear as shown below.
|When will it show in your account?||After you've paid in, when will it earn interest or reduce the interest you're paying?||When can you use the money?||When can your cheque be returned upaid after you've paid it in?|
|Tuesday||Wednesday||By 11:59 on Wednesday||Up to 4pm on Wednesday|
When you write a TSB cheque.
We won’t be able to tell you how quickly the money will come out of your account, as we don’t know which bank your cheque will be paid into. So, you need to make sure when you write a cheque, that you have enough money in your account in case the bank the cheque is being paid into is working on two-day cheque clearing.
You’ll also need to bear this in mind if you’re writing a cheque to pay a bill. So, please allow enough time for your payment to be processed in case their bank is not working on two-day cheque clearing.