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Cheque Clearance time

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HeatherH
New Member

Please advise why it is taking so long for a cheque deposit to actually be in my Bank Account?

 

This is an ongoing problem and this is why 

  1. It is a Standard Bank Cheque from my father (91 years old so don't expect him to do internet banking) 
  2. We have the same bank and are both Standard Bank and both the same Branch.
  3. He has been with this branch and Standard Bank for 50 years. I have been with the same Standard Bank for the past 30 years.
  4. He gets a notification the cheque has been cleared onto my Account after 3 days, but while the amount is reflected - the money is actually not in my account.
  5. While I understand this is security measures but what happens to the money while it is in the "ether"? Do you collect interest or?

Please let me know what the solution is.

Also for me an issue that Banks discriminate against the elderly and people who do not have access to the internet or mobile apps. 

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