Information relating to sterling cheques issued in the UK
From the 30 October 2017 a new “Next Business Day cheque clearing cycle” will be introduced for all banks in the UK. This will run alongside the existing “6 Business Days cheque clearing cycle”. The clearing cycle used will depend on which bank a cheque is deposited with, and by the method of deposit. From 30 October 2017, until the 6 Business Day clearing cycle is removed, both clearing cycles will be in operation. You should anticipate money from cheques you write leaving your account on the next Business Day; and money being cleared from cheques you deposit within 6 Business Days. You should always ensure you have sufficient funds in your account prior to issuing a cheque.
This is how the current cheque clearing cycle works for a Sterling cheque paid into a Sterling account on a Tuesday morning:
*Subject to post payment fraud measures.
More information about how the cheque clearing cycle works across UK banks can be found on the payment scheme website managed by the Cheque and Credit Clearing Company.
These timescales are industry guidelines. Interest calculations and the availability of funds may be earlier in certain circumstances.
Cheques paid in at a branch after 17:00 on a Business Day or any day which is not a Business Day may not begin to be processed until the next Business Day. Some branches have an earlier cut-off than 17:00. A notice will be displayed in such branches which will specify the earlier cut-off time. Cheques paid in via alternate methods than a branch will have different cut-off times. Please refer to the specific T&Cs for that method of deposit for more details.
Timescales for bulk cheque schemes may be different. Please contact your relationship team for further information.