Are you sure Barclays clear cheques within 24 hours? I have a Barclays basic account and it takes 7 days for the cheques to clear.

I don't know if you subscribe to MS's Rate Alert free email newsletter Brigitte, but they actually covered this just last week! Lloyds TSB now have a cheque clearing system so customers can draw out cash from their account on the same day they pay the money in by cheque - that is cheques up to £1,000. They also offer immediate interest. Barclays do the same but pays interest after three days. The Lloyds deal is causing a bit of controversy though because it doesn't include basic bank accounts, ie those aimed at low-earners. So if you consider making the switch make sure its applicable for you.

Does anyone know of a UK bank/ building society that takes a short time to process cheques paid in to an account? My current bank (Alliance & Leicester) takes four to five days. This is completely unacceptable! Why is this illegal in some European countries and not here? I'm getting frustrated with banks hanging on to my money for too long. Is anyone else?