Cheque clearance time creeping ever longer?
Is it just me, or are cheques taking longer to clear? First of all clearance moved up from Day 4 to Day 5, and now it seems to have moved even further on to Day 6 in some cases.
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878MikeGG1 postedCheques are becoming fewer so they don't seem to have the same priority.
Are you referring to cheques that you have deposited in your account, or ones that you have issued. I have assumed that you are reffing to deposited cheques.
Check the terms and conditions of your account. They will tell you when you can draw on the cheques, regardless of whether they have cleared, The risk is that the cheques might bounce later and put you in the red.
Mike
Posted on 23 January 2013 |
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