Treasurers Notices
Treasurer Contact
Please contact Rina Munro using the Treasurer email link.
Cheque: Payable To
For all general payments to our U3A, e.g. membership and Outings, please make all cheques payable to Benfleet U3A.
For GROUPS arranging paid for trips within their own group, then the cheque payee should be decided by the Group Leader or trip organiser. Our suggestion is that for trips arranged with an agent or coach company then cheques should be made out to that company, e.g. Cooks Coaches. This avoids the organiser having to bank or hold money personally. For any issue regarding GROUP trip payments, members should contact their group leader, NOT the U3A Treasurer. Thank you.
Cheque Amendments
When making amendments on a cheque please ensure that you put your full signature, rather than your initials, next to the amendment.
Our bankers have previously rejected cheques with initialised amendments.
Even though either initialised or signed amendments are allowed according to the Building Societies Association, the British Bankers Association and the Payments Council the Banks, depending on the circumstances, may or may not accept initialled amendments.
Thank you.
Cheque Dates and Age
Whilst a cheque is still valid for approximately 6 years, it will not be accepted by financial institutions if dated more than six months old.
The only exception to the six month rule is where the creation date of the cheque is more recent than the date a person writes on it. However, the cheque can only be accepted at the discretion of the financial institution.
Cheque Clearance
When talking about cleared cheques most people think that 3 working days after a cheque has been presented the monies on the cheque can be withdrawn. Whilst this is possible, if the cheque subsequently bounces the money on the cheque is withdrawn from the account into which it was deposited. If this happens, there is a possibility of an overdrawn account.
A cheque is only fully cleared 6 working days after it is presented.
Cheque Clearance Timeline (in working days):
- Day 1 - Cheque is presented as a deposit into an account
- Day 2
- Day 3
- Day 4 - Cheque monies can be withdrawn, but cheque can still bounce
- Day 5
- Day 6
- Day 7 - Cheque is now fully cleared and cannot bounce