Sage-Tips

How long does it take for a post office cheque to clear?

Cheques paid into the Post Office® You should expect to see the cheque clear and credit your account within 4 working days.

Is post office Bank cheque accepted in banks?

As per the order, cheque of Post Office Savings Bank (POSB) issued by any CBS or core banking solutions branch, if presented at a post office can be accepted at any other post office branch for the credit in savings account, RD, PPF and SSA.

Can I deposit a cheque in my post office savings account?

The Department of Post has announced that you can now deposit a cheque of any amount into your post office small savings account at any non-home post office branch. Earlier, as per the rule, you weren’t allowed to deposit a cheque worth more than Rs 25,000.

How long does it take for a cheque to clear when paid in at the Post Office Santander?

How long do the cheques take to clear? The funds will typically become available by 5pm the next working day once we receive the cheque at our clearing centre. This usually means that you’ll have the funds two working days later.

How long does cash paid in at post office take to clear?

Pay in cash on Monday before the Post Office cut off time. We will usually receive the funds from the Post Office® by Wednesday, and your account will be credited by the end of the day we receive them.

What is the minimum amount of cheque accepted by the post offices?

Pay the amount that you wish to deposit, which should not be less than Rs. 20. In case you wish to open a post office savings account without cheque book, then the minimum deposit amount required is Rs. 50.

How do I deposit a check at the post office?

To pay in cheques, you’ll need a pre-printed paying-in slip and a cheque deposit envelope. Fill in all of the details and hand it to the Post Office staff. Cheques deposited this way take two days to reach your account. You’ll find pre-printed paying-in slips at the back of your cheque book.

How long does a post office deposit take?

Fill in all of the details and hand it to the Post Office staff. Cheques deposited this way take two days to reach your account. You’ll find pre-printed paying-in slips at the back of your cheque book.

Can cash be paid into a bank account at the Post Office?

If you can get to a post office, you can just pop in and: Withdraw cash from your usual bank account using your card. Pay cash into your usual bank account using a card or paying-in slip. Check your bank balance using your card.

How much time does it take to clear a bank cheque?

Depends on the arrangement between both institutions. It is cleared on the same day or in next 3 days in CTS centers, depending upon when you hands over to branch, etc. For non-CTS centers, local post office cheque within 2 to 3 days. If cheque is payable by outstation post office, it takes 7 to 14 days.

How long does it take for a cheque to clear at SBI?

If it on any other SBI branch, it will be cleared on line, by verifying the credentials of the cheque, drawer’s signature etc. If it drawn on the other Bank, it takes one / two days for clearance, depending on the Clearing process prevailing at the centre. Note: The views expressed here are my personal views. These may not necessarily be of SBI.

How much time does it take to receive a cheque from post office?

If cheque is payable by outstation post office, it takes 7 to 14 days. It depends on many factors like how far is the concerned post office from where the cheque was issued to the branch where it was deposited. If the branch and post office is in same place then about 3 days.

How long does it take for a co-op to process cheques?

If the cheques have been sent to the Co-Op and processed then they would not be sitting somewhere (I would expect payment from the account holders of the cheques within 5 working days of the cheques being paid in via the post office). If they have been paid then there is a possibility that they have been credited to someone else’s account.