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fergie
31-08-2004, 10:14 PM
Hi all.
Quick Q.
How long does an international cheque take to clear in a NZ bank? (the cheques coming from Britan)
Cheers

Sb0h
31-08-2004, 11:14 PM
Mate, it takes several days to clear an NZ cheque at some banks...my guess is weeks. Next time get the overseas party to do an international funds transfer it's instant.

;-)

Mike
31-08-2004, 11:39 PM
> Hi all.
> Quick Q.
> How long does an international cheque take to clear
> in a NZ bank? (the cheques coming from Britan)
> Cheers

Ring your bank's 0800 number and ask them - surely they'd know?

Mike.

whiskeytangofoxtrot
01-09-2004, 12:19 AM
> Ring your bank's 0800 number and ask them - surely
> they'd know?
>
> Mike.

Surely you've been round here long enough to know that logical answers aren't acceptable.

Mike
01-09-2004, 12:21 AM
> > Ring your bank's 0800 number and ask them - surely
> > they'd know?
> >
> > Mike.
>
> Surely you've been round here long enough to know
> that logical answers aren't acceptable.

Sorry - I'll take it back :D

Mike.

KingWave
01-09-2004, 12:32 AM
Lol WTF.

andrew93
01-09-2004, 12:33 AM
Yeah it does take weeks to clear a UK cheque - if you need a faster clearance then it pays to know someone at the bank - there is no point dealing with the tellers because they will trot out the usual "bank policy" lines and you will get nowhere. Lastly, given the banks pay 0800 staff peanuts, then of course there are monkeys on the other end of the line!

whiskeytangofoxtrot
01-09-2004, 12:36 AM
> Lastly,
> given the banks pay 0800 staff peanuts, then of
> course there are monkeys on the other end of the
> line!

Asshat. You're one of those people who just loves to deride customer service staff I take it.

All the staff I've dealt with at the three different banks I use have been excellent on multiple occasions.

andrew93
01-09-2004, 12:43 AM
No offence intended to monkeys, of course! Are you saying the wages are fair and reasonable? Have you called a bank 0800 number lately WTF? For that matter, have you tried phoning HP or American Express helpdesk lately?

Mike
01-09-2004, 12:45 AM
> given the banks pay 0800 staff peanuts, then of
> course there are monkeys on the other end of the
> line!

Wouldn't the peanuts mean there'd be elephants on the other end of the line? Monkeys prefer bananas.

Mike.

Vince
01-09-2004, 12:48 AM
If the cheque is in sterling then you are in for a long wait. If it is in $NZ then 5 working days max. Vince

whiskeytangofoxtrot
01-09-2004, 12:57 AM
> No offence intended to monkeys, of course! Are you
> saying the wages are fair and reasonable? Have you
> called a bank 0800 number lately WTF? For that
> matter, have you tried phoning HP or American Express
> helpdesk lately?

Depends on where you work, the wages can be quite reasonable.

I have spoken with 2 of my banks 3 or 4 times in the last fortnight, every time with exemplary service. Though if you come across with a bad attitude chances are it'll be reciprocated.

I've done my time on an 0800 support desk, so know what it's like being on the receiving end. You call up with an attitude you get it right back - I make an effort to be pleasant to them and it pays off.

Wages are irrelevant - some of the best customer service I've ever had has been from McDonalds employees, or shop assistants in small retail stores. I hardly imagine they need a security guard to accompany when they bank their pay cheques, but that doesn't automatically mark them as crap to deal with.

Sweeping generalisations, particularly poorly founded ones can be dangerous. Incidentally I'd imagine HP's helpdesk goes to India, and AMEX's goes to America - try dealing with some New Zealand companies.

andrew93
01-09-2004, 01:20 AM
> Though if you come across with a bad attitude chances
> are it'll be reciprocated.

There are ways and means of "spitting the dummy" over the phone without upsetting the support staff member on the end of the line.

> I've done my time on an 0800 support desk,

hence your previous comment - understandable (for the moment I am ignoring "Asshat")

> so know
> what it's like being on the receiving end. You call
> up with an attitude you get it right back - I make an
> effort to be pleasant to them and it pays off.

I agree and I try to do the same

> Wages are irrelevant

disagree - bad wages in a good workplace environment is hard going, whereas bad wages in a good workplace envirnment are bearable

> - some of the best customer
> service I've ever had has been from McDonalds
> employees, or shop assistants in small retail stores.
> I hardly imagine they need a security guard to
> accompany when they bank their pay cheques,

granted - nothing to do with their wages though

> but that
> doesn't automatically mark them as crap to deal
> with.

I agree - I never said that

> Sweeping generalisations, particularly poorly founded
> ones can be dangerous.

I agree - but my generalisations were not poorly founded. Try phoning HP support on 0800 441 147 and trying getting a straight answer to any question. I have had a number of instances where the staff were not sufficiently trained nor experienced and were unable to answer basic questions, and I have terrible difficulty understanding their version of English, so I no longer use these services. Furthermore, my experiences with NZ bank 0800 support have been nothing but frustrating (to say the least) so again, I refuse to use that service. Not poorly founded, just not well explained on my part.

> Incidentally I'd imagine HP's
> helpdesk goes to India, and AMEX's goes to America -
> try dealing with some New Zealand companies.

Both are India.

Incidentally WTF, my swipe was intended for the employer not the employee. Cramming 4 staff to every 9 square meters in an office with 50+ staff with no windows, no partitioning and sod-all conveniences is one step short of a "sweat shop". No, this is not India, I am describing an average NZ call centre (I have been in quite a few). It is despicable and when you take the wages into account, it is no wonder that some of the bigger employers struggle to retain quality staff - hence the monkey reference.

KingWave
01-09-2004, 01:39 AM
> disagree - bad wages in a good workplace environment is hard going, whereas bad wages in a good workplace envirnment are bearable

Say what?

fergie
01-09-2004, 09:06 AM
ok, hmm, this is weird now aye.
Cos i looked on my internet banking this morning - and it showed it in the balance (which i new would happen) but when i go to 'Pay Anyone" (i''m with ANZ) it says available funds and it has the full amount.
Thhis is 3 days after it was banked....

Ii'll go into the bank today and check.
Cos usually when i bank a cheque - it shows up in my balance - but it doesn't appear on the "Pay Anyone" page (ie, not cleared) for at least 5 days...

Spartacus
01-09-2004, 09:56 AM
> > - some of the best customer
> > service I've ever had has been from McDonalds
> > employees, or shop assistants in small retail stores.
> > I hardly imagine they need a security guard to
> > accompany when they bank their pay cheques,
>
> granted - nothing to do with their wages though
>

So if their service is crap, it's got everything to do with their wages, but if their service is outstanding, wages suddenly have nothing to do with it... ?:|

Wouldn't you say it's more likely to be an attitude/temperament issue?? Some people have the patience/attitude to take on these jobs - others don't but take them on anyway. I can't comment on the actual wages, but I'm sure that increasing them isn't going to get rid of the (in my experience) extremely small percentage that wouldn't suit a customer service role no matter what the pay.

antmannz
01-09-2004, 11:41 AM
The standard clearance time for overseas chqs used to be 3 weeks (or 1 week if you paid for a fast clearance).

Graham L
01-09-2004, 02:35 PM
It probably takes as long as it takes them to post the cheque to wherever. :D

I'm sure they electronically check with the home bank so the money can be debited from the issuer's account immediately. :D

When I got an English cheque from EPE magazine for a published note I had to go next door to the international side of my bank to deposit it into my account. I was told it wouldn't be available immediately. I didn't bother to watch for it but I assumed it would be handled in a way to maximise profits to banks. ;-)

antmannz
01-09-2004, 03:10 PM
Yeah, electronically things can take a matter of seconds. Most of the time involved is to allow for the physical transfer of the item, and for the other bank to decide whether or not it's going to dishonour the item.

For NZ cheques, the 5-working-day process is/was this:
Day 1: deposit occurs, item is posted.
Day 2: item in transit.
Day 3: paying bank decides whether to honour or dishonour item.
Day 4: item in transit (if dishonour).
Day 5: spare day to allow for transit delays.

This process was devised before email, electronic processing, faxes etc. And almost all cheques were checked by hand to be sure the signatures etc. were correct.
Most of the time, even in the late eighties you could reasonably assume if you hadn't heard anything by day 3 it was unlikely the item would be dishonoured.

Some banks will allow smaller cheques to be drawn on immediately, as they assume that your pay/benefit/whatever will cover a smaller amount sometime inside the next month.

I think the real reason nowadays for banks maintaining the 5-working-day "hold" is to allow for things like forgeries etc.

Also, it pays to immediately contact your bank if your cheque book goes missing or is stolen, as only cheques over approx. $50,000 have a real person look over them to be sure they are kosher.

MartynC
01-09-2004, 03:29 PM
Had a choice between electronic or cheque from Australia, got told electronic had fee, but was cleared funds, cheque would be no fee, but take up till 28 days to be given clearance.


For NZ Cheques, they go nightly to a clearing house eg Databank (if it still around?) & amounts added up, eg bank A owes B $200million, but B is owed $200 Million from C etc etc, so any nett amounts go thru the Reserve Bank overnight accounts.

The 5 day thing was statourtory i thought????

bonzo29
01-09-2004, 03:39 PM
my experience is that it takes only 3 to 5 days to clear an English cheque and worth noting the x rate is done at the time you BANK the cheque, although the funds are not available until clearance

antmannz
01-09-2004, 03:41 PM
Yep, the 5 day thing is stautory ... but that was the reasoning behind it.

fergie
01-09-2004, 06:54 PM
went to the bank - sed would take a month to clear...

cadifan
01-09-2004, 07:39 PM
I'd never accept an overseas cheque. Electronic transfer so it's instant or no deal!