Can you put something on here where is can take a picture of a cheque which then goes into your account instead of sending it off and worrying if it gets to you, then waiting for cheque to clear
Yeah shame they didn’t release it a few weeks ago when I unexpectedly received probably the only cheque I will receive this year (thanks HMRC! shame you didn’t use the bank sort code & account number that I have religiously input to your online systems year after year!) forcing me to have to go into the local HSBC branch - and deposit the cheque to my old first direct a/c via a paying in machine so that it could be cleared via, er, cheque imaging clearing system
Nothing I can share but if you assume that those most likely to get tax refunds are in the self assessment system - then that is around 11.5 million people
There are around 345 million cheques issued each year in the UK so even if everyone who filled a self assessment return got a cheque refund then that would be just over 3%… And since most don’t get a refund - they end up with a tax bill, it’s less then this - so as I say it’s a small % of cheques
And presumably, many who get refunds get them credited to their bank accounts. It can’t only be me, surely? (Although money will be flowing the other way this year, mutters)
True enough. I could have done that. But I didn’t because, rightly or wrongly, I judged it to be likely the slowest and so the least preferable of the 3 options that seemed open to me at the time:
Deposit via in-app cheque imaging (not available at that time via either first direct or Monzo).
Deposit at branch (which is admittedly only 5 minutes walk from my house - it was during early lockdown but I decided to risk it).
Post to Monzo (my assumption - probably wrongly - was that would be the slowest method as Royal Mail was subject to delays and my perception is that Freepost letters are lowish priority handling, also I wasn’t aware it would be cleared via CICS once received and assumed the whole thing would be akin to paying in a cheque at a building society).
And HMRC could have done me the biggest favour of all by paying electronically.
But we all make mistakes don’t we? Next time I get a cheque in the post, I’ll give Monzo postal deposit a whirl!
I fully agree with your decision to go to a branch to do it - I was trying to emphasise just how inadequate the current Monzo solution for paying in cheques is
Yes, the cheque was deposited into a HSBC paying-in machine at the local branch (which I walked to) about 2pm on the Monday, funds credited (cleared) about 5pm the next day. Was impressed.
Since then, other half has deposited a couple of cheques received for the business she runsinto their Starling Bank a/c which launched in-app cheque imaging during April or May. Similarly impressive experience - easy to do, fast to clear, no inconvenience.