Cheque Bounced - Do I have a leg to stand on?

[chriscoates]

I paid in a cheque on the 22nd of January and checked my balance on the 24th. It suggested the cheque had been paid in so I went to the bank and drew out the money. I have since discovered that the cheque had in fact not been paid in (understandable with it only being 2 working days in hindsight) and bounced on the 27th January.

However, I drew out more money than was in my account at the time, but the bank did not notify me of this and I am now overdrawn. The question is, if I challenge the bank and say I was not told that the cheque had not cleared and I was drawing out more money than I had, will I have a valid point? Bank is the Cooperative if that helps. I've been in today and was told that the money appears in my account before the cheque is processed for 'interest reasons' surely I should have been told that I was drawing out more money than I had - should they even have allowed me to do that?

And before anyone calls me naive etc, I am 18 and I did not understand the ins and outs of paying in cheques.

[Countdown]

Bad luck - no leg.

I think you'll be charged fees for going overdrawn and fees for the bounced cheque. Who gave you the cheque?

ETA if you've got a good history with the bank then they may offer a goodwill gesture.

[bugmenot]

It is only "safe" to draw on the cheque 6 working days after the day you paid the cheque in. The money becomes available to you at least 4 working days after the day you have paid it in - so you can draw on it but the cheque can still be returned.

I believe the terms and conditions of your bank account (which you have agreed to) will stipulate this. Your naievity isn't an excuse.

As above, if this takes you overdrawn then you will probably have fees and interest to pay.
You won't be charged for the returned cheque though.