# Building society cheques



## tmitch45 (Jul 29, 2006)

Just phoned my bank santander as I need to transfer some money (£7000) to my current account to pay for a new car. They say that a building society cheque will take 5-7 days to clear like any cheque. Is this correct? I thought a building society cheque was like a bankers draft and therefore instant? If this is correct this will delay the purchase of my new car. The dealership say they wont accept a building socity cheque due to fraud. So am I really going to have to wait the 5-7 days for it to clear or are there any other options?


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## The Cueball (Feb 8, 2007)

Cheques are a nightmare and something from last century!

Can't you just transfer the money directly into their account?

Or transfer the money into your current account and pay by debit card...

or get cash...

:thumb:


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## Tricky Red (Mar 3, 2007)

The Cueball said:


> Cheques are a nightmare and something from last century!
> 
> Can't you just transfer the money directly into their account?
> 
> ...


As said - cheques are not really worth the paper they are written on. Draft would be ok, but only if checked by the seller. Loads of stolen bank cheque books I am sure. Building society cheque - same fraud - a thief only needs someone on the inside.

Transfer or debit card for me. You can transfer up to £10,000 same day FOC nowadays, and I am pretty sure that has, or is being increased imminently.


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## tmitch45 (Jul 29, 2006)

Just spoke to my building society they said they can transfer funds to my account but will still take 3-5 days I don't understand. I can have cash also but for the amount I need they need 48hrs notice and I really don't want to be walking around town with thousands in my pockets!!!


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## Tricky Red (Mar 3, 2007)

tmitch45 said:


> Just spoke to my building society they said they can transfer funds to my account but will still take 3-5 days I don't understand. I can have cash also but for the amount I need they need 48hrs notice and I really don't want to be walking around town with thousands in my pockets!!!


Ridiculous. Why can't you just debit card it, if the funds are in your account, or credit card it and pay it off when it becomes due?


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## Avanti (Jan 17, 2006)

Tricky Red said:


> Ridiculous. Why can't you just debit card it, if the funds are in your account, or credit card it and pay it off when it becomes due?


When I got my car I paid with a debit card, and it was twice the limit yo suggest in your earlier post, credit cards maybe acceptable but the dealer may want to charge the handling fee (adding 4-5% of the cost). Santander may function slightly differently to UK banks.


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## tmitch45 (Jul 29, 2006)

As above really, for arguments sake I need to pay 20k. I have 10k in the current account and 10k in a savings account with a different building society and no internet facility with the account. The car dealer (ford main dealer) wont accept a cheque, they will only take a max of 1k on credit card so I need to get the whole 20k into the current account by Sat otherwise I will have to wait for another week to get the car which is ready and waiting as of today. I can only get to the building society tomorrow and they will only give me a cheque (will take 5-7 working days to clear into my account), an inter-bank money transfer which they say will take 3-5 days (I don't understand why) or cash and I really don't want to be walking around with thousands in my pockets and they need 48hre notice for the sum of money I need. It looks like it maybe another week before I get my hands on the motor!. This is stupid, if I went to the same building society for a loan of the same amount it would be in my account the same day so why can I have my own hard earned money that quickly??????


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## The Cueball (Feb 8, 2007)

tmitch45 said:


> This is stupid, if I went to the same building society for a loan of the same amount it would be in my account the same day so why can I have my own hard earned money that quickly??????


Simple answer... because they are not making money of you.. (a loan carries interest)

:thumb:


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## tmitch45 (Jul 29, 2006)

OK a quick update, following another phone call to the building society by my wife (the account is in her name) and there is a solution. They can do a CHAPS transfer to our current account for a £25 fee and it will be instant. Annoying but a small price to get the car this week and save me having to scrounge lifts for another week! If only the person I spoke to at the building society had mentioned this to me earlier in the day!


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## Tricky Red (Mar 3, 2007)

tmitch45 said:


> OK a quick update, following another phone call to the building society by my wife (the account is in her name) and there is a solution. They can do a CHAPS transfer to our current account for a £25 fee and it will be instant. Annoying but a small price to get the car this week and save me having to scrounge lifts for another week! If only the person I spoke to at the building society had mentioned this to me earlier in the day!


That is Bo**ocks to be fair - They could have done it FOC and are having you over mate. At least you finally sorted it. CHAPS is very rarely used now, as I said earlier, sums up to £10K can be transferred with the immediacy of CHAPS.


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## Huw (Feb 16, 2007)

One of the differences between a bank & a building society.


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