How long cheque deposit

Funds will normally be available in your account at the end of the next working day. Your money will be available by the end of the following working day. For cheques deposited on these days, the first working day is the day after the break — usually a Monday or Tuesday. So, if you deposit a cheque on an ordinary Saturday morning, it will be treated as if paid in on the Monday. Remember: if you deposit a cheque on any weekday after 10pm, it will take an extra day before it's available.

You should keep the cheque until its status reads 'Funds available' in 'Deposit History' on the app. We may ask you to bring the cheque into branch. Each cheque deposited using the app in the past 99 days is listed in the Deposit History tab. The history tab only shows cheque imaging deposits made by you from a registered mobile device in the past 99 days. These limits are shown on the Deposit tab where you enter the amount written on the cheque. Some types of cheque may only be deposited in branch.

Place the cheque flat and in good light against a plain, darker background. Hold your device in the landscape position, steadily over the cheque without tilting. Hold still for a few seconds while the app takes the image — and you should be good to go.

Cheque images are only stored securely on bank systems. Yes, we process cheques written in English, Welsh and Gaelic. Or perhaps your dear old aunt still sends you a check for your birthday every year. Whatever the reason, you should be aware that you may not have access to the full amount right away when you deposit it into your bank account—even if your balance indicates otherwise. If you try to use the funds right away, you may run into problems—even bouncing payments and getting charged by your bank.

So it pays to understand the basics of checks and hold times. Read on to find out more about how long it takes for checks to clear and how you can avoid costly fees that may result from any misunderstandings.

When you open up a bank account, financial institutions always outline their policies about deposits, including hold times for check deposits. Banks place these holds on checks in order to ensure the funds are available in the payer's account before giving you access to the cash. By doing this, they help you avoid incurring any charges—especially if you use the funds right away. It usually takes about two business days for a deposited check to clear, but it can take a little longer—about five business days—for the bank to receive the funds.

How long it takes a check to clear depends on the amount of the check, your relationship with the bank, and the standing of the payer's account. Wait a few days before contacting your bank about holds on deposited checks. Of course, the hold time often depends on the nature of the check. A bank may choose to hold a check longer if it's an unusual deposit if you've never deposited a check from that payer before, if the check is for a large amount, or if the check is from an international bank.

The latter requires a much longer hold time because it can't be easily verified. Hold times for these checks depend on your institution, so you should check with someone about the policies. Check hold policies vary between banks, so check with your institution about how long you have to wait to access the funds. There are several reasons banks hold checks. Your bank may hold a deposited check if there are insufficient funds in the payer's account or if the payer's account is closed or blocked for some reason.

Banks usually resend checks with issues to the paying institution, but this results in a longer delay for the depositor. Some banks also issue holds for deposits on new accounts. Accounts that have no or little history may automatically qualify for holds on all check deposits until the time that the bank feels you have solidified your relationship with it. Accounts that have negative history—that is, accounts that frequently bounce payments or go into overdraft —may also have checks held.

The payer also has a lot to do with hold times as well. If you've never deposited a check from that person before—and it's a sizable amount—your banking institution may choose to hold it until it clears. Certain institutions may hold checks that are deposited through mobile banking apps or through the automated teller machine ATM.

These deposits have to be verified and cross-checked before the bank can release the funds. It's always a good idea to check with the bank about its policy when it comes to its hold times for these types of deposits. When you deposit a check, whether at an ATM, a teller's counter inside the bank, or a drive-through window, you typically get a receipt that usually says when the funds will be available.

Keep the receipt handy until the check clears. The funds-availability date on the receipt lets you know when it may be time to contact the bank regarding hold inquiries.

Credit and debit transactions will show on the account once unpaid decision has been received by weekday after the cheques deposited and a letter will be sent advising the cheque will be represented for payment. You will no longer be able to put a stop on a cheque once the scanned image of the cheque has been received by HSBC for payment. Return cheques will continue to be represented where applicable.

This will occur up to 4 times. Any charges applied here will remain as today. If a cheque is returned as unpaid, you will receive a copy of the image not the paper cheque as before.

You should not try to represent a paper cheque as it will be rejected as a duplicate. Service will continue until cheque imaging is fully implemented then the service will be withdrawn. Cheque Imaging. Ways To Bank. Paperless transaction An image of a paid in cheque will be taken, this image is the form of communication banks use to transfer cheque information between themselves, instead of the physical paper cheques previously used.

Faster cheque clearance Sterling cheques that are imaged will clear faster than they do today. Access funds within 2 days You will be able to access your funds within two working days. Ways to deposit a cheque Branch. Cheques are to be deposited in branches or cheque deposit machines. Posted to HSBC. Your bank statement You will see a cheque on your statement once it has cleared.