How Long Does A Cheque Take To Clear Nationwide

A teenager from Belfast got the shock of his life when he checked his bank balance to see that he had become a multi-millionaire overnight.

Of course, he was eventually disappointed. Nobody gets that lucky. Still, for one minute he thought that he had £8.9m to spend. Perhaps thinking you have that and then having it torn from your grasp is worse.

The teenager in question is 18-year-old Dane Gillespie. He'd just gone down to Nationwide to cash in a cheque for £8,900 that he'd got from his grandmother. You can see whether this is going, can't you.

Obviously, someone had accidentally added a couple of zeros onto the amount that he was cashing in, so it looked like he had millions, when he really didn't.

Imagine looking at your bank balance and seeing this. Credit: Belfast Live

His poor mam nearly had a heart attack when he showed her his balance. Caroline Gillespie told Belfast Live: "We couldn't believe it.

"My son thought he was a millionaire for a few hours. There was £8.9million in his account on Wednesday morning.

"It's as well he told us and didn't go and blow it all. He's only 18.

"He got a cheque from his grandmother for £8,900 and put the cheque in last Thursday.

"I said to him this morning, 'that cheque should be cleared in your savings' and he went, 'right'."

She continued: "Next minute my husband messaged me with the photograph of his bank account details. It took me a wee while to click.

"He's going to me, 'I'm gonna order a Porsche' and I said, 'don't be daft, that's not our money, we need to get this sorted'."

Ah well, a guy can dream, right?

Eventually, the bank realised what they'd done and rectified the mistake a few hours later. They issued a cheque correction and stripped Dane of his new-found wealth.

His mum added: "It was Nationwide in the city centre at Donegall Place.

"It was like that for a good few hours. For an 18-year-old being a millionaire for the day, he just can't believe it.

"He just wanted to go out and spend, but if you do then you have to pay it back.

"He thought all his birthdays came at once this morning. It's mad."

A Nationwide store in Belfast. Credit: PA

A spokesperson for Nationwide said: "The customer paid the cheque in at the branch and unfortunately the wrong amount was keyed. The error was noticed straight away, and the balance was corrected in a matter of seconds.

"While the amount was shown on his balance, cheques do not clear straight away, so the funds were never in his account."