Is this a scam, or am i atlast able to get my SV???

[BillyC]

Talk to your bank when you pay it in... you can pay a fee to ensure that it's cleared manually rather than through the normal systems - this guarantees that the money is transferred - and no comeback later.

[mattSV]

Speeeedy wrote:-

I took my cheque to the bank today and said that i wanted to send it via special presentation, she said that the money will not get into my account any quicker and that i will just be paying £12 for a normal cheque to be cashed.
I said i just wanted to ensure the cheque was going to clear without any problems. She told me that a special presentation means nothing and i am just wasting my money!
She is going to phone me tommorrow and let me know.

Do you think she will actually phone the guy who is buying my bike's branch and do a check, or just phone me and tell me anything?

If she phones and says that it has cleared and gives me her name and the persons name in the other bank, and infact the cheque does not clear, what can i do then?

Okay, here we go again!

Specially presenting a cheque will obtain a GUARANTEED answer, so long as the cheque is actually received by the drawer's bank - they have to give a final answer, which cannot then be changed. If they **** up and give the wrong answer, that is their problem. Once they have given their answer, the cheque cannot be stopped by the drawer.

Before giving the answer, they will check for funds and ensure that the cheque has not been stopped - they might also undertake additional checks to ensure that the cheque is not forged.

Once these checks have been done, they must provide an answer, which will normally be one of the following:-

PAID - that is the answer you want - all the checks have been made, the funds are available and the cheque WILL NOT be returned

Orders Not To Pay or Payment Countermanded by Drawer - the issuer has stopped the cheque
Refer to Drawer - please represent - the cheque has bounced, you can pay the cheque in again and it might be paid next time
Refer to Drawer - the cheque has bounced and probably will bounce again if you pay it in again (nothing to stop you paying it in again though if you want to chance it)

These are the most common answers, although there are others.

You paid the cheque in today via special presentation, however your bank still need to get the money from the drawer's bank. Even if you are told that the cheque is paid, you bank will not get their money until Wednesday (I think!) therefore this might be what she means by 'the money will not get into my account any quicker'. You will however have a guaranteed answer as to whether or not the cheque is paid.


The phone might be made by a 'processing centre' rather than your branch - when they phone you with the answer, ask them to confirm the following:-

1) The cheque definately has been paid
2) That you can 'release the goods'

Get their full name and a contact number - if you can get them to put it in writing as Northwind suggested that would be ideal, however I have never heard of anyone giving this sort of info in writing in 17 years of banking!

quote]If she phones and says that it has cleared and gives me her name and the persons name in the other bank, and infact the cheque does not clear, what can i do then?[/quote]

They won't normally give you the name of the person at the other bank. There will however normally be a record made on you file of the outcome of the special presentation. In addition, the call between your bank and the drawer's bank, and your bank and you may be recorded so in the event of any dispute these could be checked.

If a mistake is made by your bank or the other bank, then it is their problem. If they tell you that the cheque is PAID, and it then bounces, in effect they will have bought your bike!!! it is very rare for this to happen, however I have known some bank's to have bought a variety of 'interesting' things this way - they then have to either try and dispose of them to recoup their losses, or chase whover issued the original cheque for settlement - this will not be your problem though.

If you are in any doubt at all, phone your branch after you get the call and insist on speaking with your branch manager - get them to confirm the above - that is what they are paid for!!!





[/quote]

[northwind]

Originally Posted by mattSV

If you are in any doubt at all, phone your branch after you get the call and insist on speaking with your branch manager - get them to confirm the above - that is what they are paid for!!!

Hah, these days branch managers are sales managers not account managers, mie couldn't tell you the first thing about clearing a cheque... Though she might sell you a mortgage

[mattSV]

Northwind wrote:-

Hah, these days branch managers are sales managers not account managers, mie couldn't tell you the first thing about clearing a cheque... Though she might sell you a mortgage

It was a bit tongue in cheek when I wrote it

These days you don't need to know anything about 'banking' to get to be a branch manager, so long as you can sell - your branch is now a 'retail outlet'.

Back in the 'good old days' (cue the hovis music) you didn't get anywhere near talking to customers until you had spent months:-

Processing cheques and credits (and learning about the clearing system!)
Keying customer's transfers
Writing out statement envelopes
Franking the post
Making the manager's tea

Customer service then was probably worse than now, because everything was processed manually, however at least the customer could always talk to someone at their branch who knew what they were talking about.

Where on earth would a bank get the money to train their staff properly these days - they only make about £30 billion profit per year between them

[northwind]

Originally Posted by mattSV

These days you don't need to know anything about 'banking' to get to be a branch manager, so long as you can sell - your branch is now a 'retail outlet'.

But luckily you have the Northwinds around to back you up if a customer ever actually want to do anything out of left field like, I don't know, withdraw more than £500 cash, or order a draft in foreign curency

The irritating thing is, without the Northwinds the branches fall apart- sounds bigheaded but it's literally happening just now in my own branch, since I'm not there, I'm told it's hilarious to watch as, for example, nobody gets to go on their lunch till 2.00 because none fo the monkeys have the resourcefulness to notice that they've not been yet, then everyone goes at once except for the assistant manager and manager, who try to cover 4 counter positions at the same time while everyone else goes off to the pub However, when it comes to review and bonus times all they want to know is "How many mortgages did you sell" "Well, I reduced the cash differences from £65000 untraced to £5000..." "Well, while you were wasting time saving us £60000 cash you should have been selling car insurance!"

It's pretty entertaining to do a job when you know the entire company's insane and you could find better withut trying very hard, though

[mattSV]

leesimons wrote

I had a great one in Natwest.

"Hi there, I'd like to transfer some money to another person's account please, I have the sort code and account number."

"Sorry sir, that's not possible."

"But I can do it with online banking."

"No you can't."

"Yes, I can."

"No sir, you cannot."

"Are you calling me a liar?"

"No sir, I think you must be mistaken though."

Conversation continues until I ask for my card and leave.

Yet another great example!

The NatWest branches unfortunately use a different system to the Online Banking system and branch staff seem to know naff all about the Online system.

The only way that a branch can make a 'one-off' payment to another account for you is via a CHAPS payment, for which there is a charge.

You can however make a one-off payment via the telephone free of charges if you call one of the 24 hour telephone numbers (and you get to speak to a 'real person' based in the UK!)

I have been trying to get the area responsible for the branches to provide additional training on the Online and Telephony systems for the last year, so that they can help customers (isn't that what they are there to do?), however helping customers with these sort of enquiries doesn't make any money so it is not seen as a priority

This article is rather hair-raising. I work in banking too (though not as close to the coalface as northwind ) and personally I wouldn't accept a cheque for anything.

http://news.bbc.co.uk/2/hi/programme...ox/3709908.stm

Thanks for all of the replys, I have checked my bank balance in the internet today and the money is there, but i know this means nothing. My bank is going to phone me tonight about 7.30pm to let me know the result of the 'special presentation'. so fingers crossed it will clear ok

But then again should i be hoping it is a fake cheque to stop me worrying and just sell the bike to a different person ( i have 2 other buyers lined up) for CASH


Whats the whole idea of this thread, I need ideas how to help the problem that i have now!
not people trying to make me even more nervous???

Originally Posted by ludwig9

This article is rather hair-raising. I work in banking too (though not as close to the coalface as northwind ) and personally I wouldn't accept a cheque for anything.

http://news.bbc.co.uk/2/hi/programme...ox/3709908.stm

[mattSV]

Ryan

So long as you get the answer that the cheque has been PAID, then there should be no more problems.

Once his bank has told your bank that the cheque is PAID it cannot be returned for any reason.

Fingers crossed for 7:30!

mmmm, problems with banks? Just banks? sounds like 'state of the Nation' to me. Frankly, this country is a joke where any form of administration is involved........cue rants from misguided patriots.