Cashing Cheques

PostCashing Cheques by **coldspice** » Thu Sep 04, 2008 7:26 pm

I will be recieving a cheque in the next few days, with which the money I get from it will be used to buy a car, thing is, I will likely be paying it in Saturday / Monday, but I could do with the cash sharpish as I have to give my current car back on Monday.

What is the quickest (and not stupidly rip-offish) way of getting to this cash? I heard that you can pay a fee to your bank for them to pay it within one day, but I've never been aware of this. I've also been looking at cashing it at somewhere like Cash Generator, but don't know what their charges are like. Anyone done a similar thing?

PostRe: Cashing Cheques by **SEP** » Thu Sep 04, 2008 7:27 pm

The charges those places impose are ridiculous. I have similar issues, as my employer has seen fit to pay me by cheque, even though they have my bank details for a BACS payment.

PostRe: Cashing Cheques by **JiggerJay** » Thu Sep 04, 2008 7:31 pm

you are better off waiting mate, i am sure banks and cash generator/converter places charge anywhere between 5-20%

PostRe: Cashing Cheques by **coldspice** » Thu Sep 04, 2008 7:34 pm

JiggerJay wrote:you are better off waiting mate, i am sure banks and cash generator/converter places charge anywhere between 5-20%

Oh well, I suppose I can always ask and tell em to fook off if it is ridculous.

PostRe: Cashing Cheques by **LewisD** » Thu Sep 04, 2008 7:51 pm

You are better off waiting 5-7 days mate.
It'll be hell, but much better on your wallet and your mind.

I remember, my first Chef job, they'd only pay by cheque.
And my measely £180 a week wage would be reduced to a strawberry floating tiny £144.

It's really not worth it.
Your lack of patience is filling the pocket of someone who is too lazy to work hard for his money.

PostRe: Cashing Cheques by **SEP** » Thu Sep 04, 2008 7:52 pm

To be fair, Cash Generator is a pretty accurate name for what they do. The generate cash for themselves.

PostRe: Cashing Cheques by **Tom1882** » Thu Sep 04, 2008 7:58 pm

You can't pay to have a cheque clear faster, it's impossible, otherwise they would just speed up the whole clearing cycle for everyone. The fee you pay is a next day service that just gets confirmation that it will clear. If you're going to be withdrawing the money straight away though, make sure your bank arent arsey about it, it takes 3 working days to clear a cheque, as long as you pay it in before 3.30pm that day, but sometimes you wont get the money until the 4th working day after 2pm as it can potentially be recalled by the issuing bank up until then.

PostRe: Cashing Cheques by **coldspice** » Thu Sep 04, 2008 8:01 pm

LewisD wrote:Your lack of patience is filling the pocket of someone who is too lazy to work hard for his money.

To be honest, it's not really patience as I'm not really bothered about wating. It's just that I've just been made redundant and wanted to be doing interviews next week, but if I wait ill be without a car untill Friday at the earliest, and I'm weighing up possible fees against a possible hire car, which is also a bleeding rip off!

Cashing Cheques

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