If you want fast clearance of a cheque you can ask your branch for a special clearance. Our staff will provide you with an estimate of the time it will take plus the cost involved. NAB's fee for a special clearance covers the extra administrative costs involved in making a special payment request to the bank where the cheque account is held. Depending on the speed of the clearance you request.
It means money is coming into my bank account. But, how to bank in cheque? I always forget what to write on the reverse side of the cheque every time I want to drop cheque. With this article on hand, it will be easy to bank-in cheque to your bank account quickly. Check the Bank Cheque Issued. First thing first: Check the following details are filled in correctly: Double cross at the top left.
Your bank will send the cheque to the bank which issued the cheque, by first class post and phone them the next day to confirm that it will be paid. You’ll be charged for this service. You won’t get the money any quicker, but you will find out if you’ll get it. Out-of-date cheque rejections. Banks usually reject cheques that are older than six months. To avoid problems with out-of-date.
As with any bank or financial institution, the amount of time it takes a cheque to clear depends on the amount of the check and what bank issued the check.
If a bank holiday falls during the clearance period, the number of days will be extended accordingly. For example, a cheque paid in on Thursday before 6pm, when the following Monday is a bank holiday, will be available on the following Wednesday rather than Tuesday. When paying in cheques drawn on a non-UK bank, please allow 6 - 8 weeks for clearance.
By the end of day two of the clearing cycle (i.e. Tuesday), the cheque is either paid or declined by the Drawer’s bank. Once it is paid it becomes cleared funds. If you pay a cheque in on a Saturday or after 3.30pm on a working day, the funds will not clear for two further days.
You will need to provide your full name as per Bank's records, your bank account number and your contact number at the back of the cheque before depositing it at our Quick Cheque Facilities. Ensure that your full name, date, amount in words and figure (which tally) and issuer's signature are completed on the front of the cheque. Refer to the Quick Cheque Facilities section for details on how.
The new system means that if you pay a cheque in on a working day (Monday to Friday) you'll be able to withdraw the funds by 11.59pm the next day at the latest (excluding weekends and bank holidays). The system is being rolled out in phases and even banks that are starting to implement the new system will only use it on a small number of cheques to begin with.