Your selected question and answer
Question:
How long will a cheque take to clear?
Answer:
A cheque will normally take up to 6 working days to clear:
Cheque Clearance
Day 0 (eg. Monday) - The day that our processing centre receives the cheque
DAY 2 (eg. no later than Wednesday): The account starts to earn interest on the money paid in
DAY 6 (eg. no later than the following Tuesday): The money is available to withdraw. By the end of the day, you can be certain that the money is yours and cannot be reclaimed without your permission (as long as you have not deliberately committed fraud). Up until the end of Day 6, a cheque may still bounce and the money may be reclaimed from the payee’s account.
PLEASE NOTE FOR CHEQUES DEPOSITED IN-STORE: If a cheque is deposited in-store it will usually take 3 working days for our processing centre to receive the cheque (ie. add 3 working days to the cheque clearing cycle – Saturdays and Sundays and Bank Holidays are not working days). If a cheque is received after 3.30 or on a non working day we will treat it as being received the next working day.
- Can I deposit cheques into my Instant Access Savings Account in store?
- Is there any limit to the amount I can withdraw online?
- Will I be penalised for withdrawing money from my Instant Access Savings Account?
- How much money can I take out of my Instant Access Savings Account in any one day?
- What is CHAPS?
