International Cheque Clearing

Oak

New Member
Sep 3, 2009
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Ok heres the deal.

I sold my car to a guy from the states (residing in germany) and he wanted to pay by a loan cheque from the navy federal credit union. So we go down the bank and hsbc say yeh they can contact them on monday and give me a turnaround time of 5 days which I settle for.

Now this is where it goes fuber, it was a saturday and they said their cheque office was closed so come back on monday. Deposited cheque on monday and the lady on the cash desk goes it will take 6-8 weeks! 6-8 WEEKS WTF MAN! I tried explaining my situation that I came in on saturday and spoke to them all that, but no 6-8 weeks. Now its been over 3 weeks since I deposited the cheque, the credit union in america said they have cleared the funds over a week and a half ago. So why exactly is my bank taking so long? I even told them they have cleared the cheque so why the delay? Still say 6-8 weeks.

How much longer do I have to wait? Its so frustrating there is no way of checking the progress aswell.

Before you guys say I've been scammed, its a legit organisation, I still have the registration documents, I have the guys full details and have been in touch. All he says is that the bank has released the funds so its upto my bank which is taking the mick.

Help me please! :mad:
 

mlewis09

New Member
Aug 15, 2009
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Scunthorpe
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I would have insitsed he bank the cheque and wire the money to your account.

It would be much quicker for you and the guy would get the car sooner.

Certainly, I'd be considering my relationship with the bank after this episode, and move my account elsewhere.
 

Oak

New Member
Sep 3, 2009
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Yes we did think of doing it electronically after depositing the cheque (would have to cancel the cheque) and by that stage when he contacted the credit union i.e all paper work signed they say they cant cancel the cheque as they have sent the funds, otherwise it would be a double transaction.

I do use hsbc internet banking quite alot and was usually trouble free, but when popping into the branch, its ridiculous.