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Quick question about cheque clearing


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It varies from bank to bank and from account to account within those banks. One of my accounts takes 4 days and the other takes 10 days (same bank).

 

EDIT- but you're really asking when you can draw on the money from a cheque, rather than when it clears, as quisquose says.

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Not any longer. Banks use the newish 2/4/6 timescale rule. See http://www.chequeandcredit.co.uk/246/

 

That explains the time-scales on which money can be withdrawn on a cheque after banking, it doesn't mean that after these times the cheque cannot be bounced back.

 

It might give some reassurance, but don't rely on the clearing timetable if you are suspicious of the person issuing the cheque. Same applies to PayPal I guess.

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