Cheque Cashing in the A.C.T.?

Why don’t you be a mate to your mate and lend him some cash until his cheque clears?

johnboy said :

Don’t expect them to give it up until they see so few cheques as to make it worthless.

In which case they’ll charge a special processing fee…

The only reason banks insist on a clearance time in this day and age is to profit from the interest.

Don’t expect them to give it up until they see so few cheques as to make it worthless.

CPS Credit Union absolutely refused to cash my last tax cheque about 3 years ago… needless to say I always use direct credit now.

Bank cheques are different because I believe the issuing bank is giving assurance that funds will be there. ATO tax cheques as same as bank cheques I would think. Any bank/credit union who reckons this cheque would need to be cleared are being very silly.
Happy to be corrected.
Cheers.

You can go into a branch and ask for a special clearance. It will cost between $15 and $20 and will take 1-2 business days depending on the bank and whatnot.

Most banks are only able to cash cheques that are drawn on that bank – the Reserve Bank has no branches, so that makes it a bit difficult…

Don’t they teach this basic stuff in schools?

There are these things called banks. They’re on the nose at the moment, rightly or wrongly.

You can open an account at them. The ATO will even direct credit your tax refund to it.

You can even pay a fee to get immediate clearance on a cheque – especially a Govt one.

Much cheaper than the “fee” you pay a cheque cashing rip-off agency.

Anyway, i’m sure there is at least one place that cashes cheques in the city bus interchange. I think I recall seeing one near the Cafe Guru.

My tax return was in my account (via direct debit) within about 4 days of submission back in early July.

A bit of planning pays off.