Cheques go through a clearing process so the amount you pay in may not be available to use straight away. We meet the requirements of the 2-4-6 cheque clearance process implemented by all UK banks and building societies. The 2, 4 and 6 refer to the number of working days after a cheque has been paid into an account. Working days are Monday to Friday, except bank holidays. This is how the process works if you pay in a sterling cheque from another bank:
So, for example, if you pay in a non-Lloyds TSB cheque on a Monday, you will see it on your statement the same day, it counts towards interest on Wednesday, you can use the money on Friday and we cannot take the payment out of your account after the following Tuesday.
If the funds from the cheque are not available to use we may refuse to make a payment if you do not have enough money in the account to cover it. A cheque can be returned unpaid up until the end of the sixth working day after we receive it. If this happens, we will take the money from your account even if it puts you into overdraft.
If you have a Lloyds TSB cheque to pay in then things are slightly quicker. If the cheque is coming from:
