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Understanding your balance
Your balance is the current gross amount held within your account.
Your balance after pending is the amount you currently have available to spend, taking into account the amount of money in your account and any recent transactions not yet cleared. This amount will not include any arranged overdraft limit you have. Various circumstances may cause a difference between your balance and balance after pending. These are explained below:
Recent debit card purchases
Your balance after pending shows recent debit card payments before we have fully processed (cleared) the payments. This means we have set aside from your account the money recently spent on your card before the seller actually takes it. When the money leaves your account, your balance will be reduced, but your balance after pending will stay the same, as we have already adjusted it to show the payments.
Paying in cash and cheques
|
Type of payment |
Where paid in |
When your funds are available to withdraw |
|---|---|---|
|
Type of payment Cash |
Where paid in Anytime at the Immediate Deposit Machine, in branch before 5pm, or using an Express Pay-In before 4pm |
When your funds are available to withdraw Same day |
|
Type of payment Cash |
Where paid in In branch after 5pm, or using an Express Pay-In after 4pm |
When your funds are available to withdraw Next working day |
|
Type of payment Cash |
Where paid in In branch or using an Immediate Deposit Machine or Express Pay-In on a non-working day |
When your funds are available to withdraw Same day |
|
Type of payment Cash |
Where paid in Via a cash machine |
When your funds are available to withdraw Next working day |
Cheque Imaging has been fully introduced for all banks in the UK, enabling quicker and more convenient ways of depositing cheques, such as via the Mobile Banking app. This is because instead of exchanging physical cheques, banks will exchange digital images of cheques.
A quicker clearing time also means that when you have written a cheque, money will leave your account sooner than it did under the old '2-4-6' clearing process. You should always ensure you have sufficient funds in your account prior to writing a cheque.
Cheque Clearing
The table below explains what happens while the cheque is being ‘cleared’ (collected from the other bank).
How the Cheque Imaging process works
If you pay a cheque in pounds into your account on a Monday, you will see it in your account the same day. It counts towards any interest and you can use the money on Tuesday by 11:59pm at the latest.
|
Cheque Clearing Process |
When will the payment affect any interest or reward payments you get or daily arranged overdraft interest you pay? |
When will the payment be available to use? |
When can the cheque be returned unpaid? |
|---|---|---|---|
|
Cheque Clearing Process Cheques paid in using the Cheque Imaging process |
When will the payment affect any interest or reward payments you get or daily arranged overdraft interest you pay? By 11.59pm on the working day after we receive the cheque. |
When will the payment be available to use? From 11.59pm on the working day after we receive the cheque, at the latest. |
When can the cheque be returned unpaid? Up to 11.59pm on the working day after we receive the cheque. |
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