Cleared/Uncleared Items

When you pay a cheque into your account the amount of the cheque will be credited to your account that day.

However, it will usually take two working days for the cheque to be processed (ie passed through to the bank and branch on which it is drawn and payment obtained). During this period the cheque is said to be 'uncleared'.

It is therefore important to remember that the balance of your account may contain some funds which are still 'uncleared'. If you take money out against any uncleared funds, and you do not have enough in your account to cover the amount of the drawing, interest will be charged. Your branch will be pleased to tell you your cleared balance on request.

While the above explanation covers the clearance of cheques for value in your account, it does not deal with the fate of these cheques i.e. the payment of them. Sometimes a cheque which you have paid in may be refused by the bank on which it is drawn (e.g. because the person who gave it to you has insufficient money in his or her account).

Your branch will advise you if this happens and the additional cost of dealing with any unpaid cheques will be charged to your account immediately.