Gold Investment Index Page

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Krugerrands
Krugerrand Information
Krugerrands For Sale
Sovereigns
Sovereign Information Sovereigns For Sale
Year 2000 Sovereigns
Gold Bars
Bars Information
Bars For Sale
Half Sovereigns
Half Sovereign Information
Half Sovereigns For Sale
Year 2000 Half Sovereigns
About Us
About Us
Order Form UK
Order Form USA

Clearing Cheques
We allow a full week for cheques to clear. Many people query this, and do not understand the cheque clearing process. Because we find ourselves describing the process several times each day, we have provided this information page.

Cheque Clearance
We describe the basic process for cheque clearing in the UK. This list only describes a typical normal clearance, there can be differences and exceptions.

  • Day 1- Monday
    Let's assume we receive your cheque on Monday, and that we manage to bank it the same day before the cut-off time. We will call this day 1.
    Our bank send your cheque to the bankers central clearing centre. If we bank your cheque after 3.30, it will not get processed until the next day. Occasionally banks have computer problems, and cheque processing gets delayed.

  • Day 2 - Tuesday
    You cheque should arrive at central clearing, provided there are no delays.

  • Day 3 - Wednesday
    You cheque arrives back at your own bank, providing there are no delays. Your bank normally has until 3.30 to return your cheque or pay it. The debit transaction should show up on your statement.

  • Day 4 - Thursday
    If your cheque has been paid, nothing happens. If the cheque was returned unpaid, it should be received back by our bank, providing there have been no delays. For large amounts our bank may telephone us to advise us, but it is not obliged to do so. Our bank shows our Monday cheques as cleared for interest calculation purposes. Your bank can exceptionally still return your cheque today.

  • Day 5 - Friday
    We may receive a notification from our bank by post if your cheque has been returned unpaid, providing there have been no delays in the post or elsewhere in the system.

  • Day 6 - Monday
    We may receive a notification from our bank by post if your cheque has been returned unpaid, assuming normal delays in the post. This notification may arrive by second post.
    We assume that your cheque has cleared, but we wait a few days just to be certain.

  • Day 7 - Tuesday
    It is not unknown for post to take longer than this to arrive!

  • Day 8 - Wednesday
    Typically this is the day which we have marked your order for packing and despatch. We hope your cheque has not been returned unpaid, and delayed in the post. At busy times, we don't always manage to get all our post mailed out same day.

  • Day 9 - Thursday
    This is about the earliest day you should expect to receive your order.

Known Exceptions

  • Special Clearance
    It is possible to send cheques by special clearance. It is not our usual practice to do so. Some banks will occasionally send large cheques by special clearance without informing the account holder (recipient). Banks charge extra for special clearance of cheques, and there is also an administrative cost.

  • Stolen & Forged Cheques
    We would normally hope that our bank would telephone us if a cheque we received turned out to be stolen, forged or fraudulent, or suspected to be any of these, however banks are not under obligation to notify by telephone, and there can be other reasons for delay in communication.

  • Re-Presentation
    If your bank has returned your cheque marked "Refer to Drawer - Please Represent", our bank may represent your cheque without telling us, or only notifying us by post. In the event that your cheque is not paid on the second presentation, this can add to the delay before we receive notification.

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