Information on cheques, standing orders and direct debits
About this page
This information is for clients with an Investec bank account who want to know more about receiving money and making payments.
Using cheques to receive and make payments
Below we've answered questions we're regularly asked about making payments in and out of an Investec bank account. If you have a question that's not answered, we'd appreciate you telling us via our feedback form.
How do I get a new cheque book or paying-in book?
If you would like to order a cheque book or paying- in book, please call us on the numbers below (they're open 24/7).
Cheques made out in pounds (GBP) normally take up to 4 days to show on your account balance.
The money from the cheque will start earning interest from the second day. But the money can be removed as unpaid up to day 6, so keep this in mind if you want to take the money before this day.
If you need the money before the fourth day, we can do something called 'special presentation' where we check with the paying bank that the person who has written the cheque to you has the money available to pay it. To use this, you need to tell us when you give us the cheque, and there will be a charge for this service.
Can I pay in a cheque in a different currency?
Yes, but they take longer to clear.
Because there’s no cross-border clearing system for foreign currency cheques, we need to send this to the payer's overseas bank for collection. This delays the money appearing in your account and can take more than a week So it’s probably better if you ask the person paying you to make an electronic transfer, as these are significantly quicker.
There are some currencies you can’t have paid into your account, so please contact us for more information if you’re unsure.
How can I pay a cheque into my account?
There are three ways to do this depending on the kind of cheque.
Paying in a cheque from another UK bank or building society Write your account number on the back of the cheque and take it to your nearest HSBC UK branch with a filled-in paying-in slip. Find your nearest HSBC UK branch on their website.
Paying in a foreign cheque.
A cheque in a foreign currency must also have your account number on the back and then be sent in the white pre-paid envelope. By using the wrong envelope, it may take longer for your cheque to be processed.
Can I cancel a cheque?
Yes, as long as we haven’t received it.
You would need to call us first to give us details and then send instructions in writing. We process cheques automatically, so you can’t cancel one after it arrives.
Direct Debits and standing orders
Below we've answered questions we're often asked about creating, amending and cancelling direct debits and standing orders. If you have a question that's not answered, we'd appreciate you telling us via our feedback form.
What is a standing order?
An instruction you give us to pay someone else with a UK bank or building society account on a regular basis from your account.
How do I set up a standing order?
The easiest way to set these up is by using Investec Online. If you can't do that or prefer to speak to someone, you can call us. Once set up, you won't have to worry about the payment being made, or missed.
To set up a standing order, you will need the following information:
Account holder’s name
Initial and regular payment amount
You can also supply an end date for payments, if there is one.
How do I cancel a standing order?
You can cancel a standing order anytime up to 5:30pm London time on the working day before it is due to be paid. You can do this in Investec Online, as well as cancel the standing order in its entirety. But if you prefer, you can call us and we will process this for you. Remember though, you can't cancel a standing order the day it's due to leave.
What is a Direct Debit?
Direct debits are set up by the organisation taking the money, such as your electricity provider. You can view all those that have been set up in Investec Online, where you can also cancel them. Another way to cancel a direct debit is by contacting the company who have set-up the direct debit from your account.
How can I cancel a direct debit?
In Investec Online or by contacting the company who have set-up the direct debit from your account.