The time it takes for your funds to clear depends on how the funds were deposited into the account. For example, while a transfer from another Investec account will be available immediately
(subject to the instruction being received before the cut-off time), a deposit by cheque will not be available for withdrawal until the fourth working day after it is received. For specific clearing times, see below:
By cheque in sterling
The amount will be available for withdrawal on the fourth working day after it is received. A cheque received for clearing into the account may still be returned unpaid at any time up to the end of the sixth working day. If this happens we will inform you. If you have withdrawn funds in the meantime you will have to repay them.
By transfer from another account held with us
Provided we receive the instruction for a transfer by 4.30pm on a working day, the funds will be paid into the account and will be available for withdrawal on the same working day. If we receive the instruction after 4.30pm on a working day, or on a day that is not a working day, the funds will be transferred on the next working day.
By electronic transfer (sterling or foreign currency)
Electronic deposits will be paid into the account once we receive them from the paying bank, after which time they will be available for withdrawal.
By cheques drawn in a foreign currency
Most foreign currency cheques are sent to the paying bank for payment on a collection-only basis. This means they will only be paid into the account when we actually receive the funds. We will give you the value of the payment in the currency in which your account is denominated, once we receive the payment. We may negotiate certain foreign cheques - call us for more information on negotiating cheques. We can also provide further information about payment times for particular cheques drawn in a foreign currency on request. A collection charge applies. See our charges sheet for more information.
