Will there be any changes to additional instructions on unpaid cheques following the implementation of the Image Clearing System (ICS)?
Yes. If you currently have additional instructions in place for cheques that you deposit into your account, (which are then returned unpaid) you will see the following changes:
| Current Service | Post ICS Service | What does this mean for you? |
|---|---|---|
| Early Notifications Details of unpaid cheques over the amount of £5000 are emailed or telephonedto the customer by their Relationship Manager, on the day we are advised that a cheque will not be paid. | Visibility of unpaid cheques via New Bankline | If you currently receive unpaid notifications, you will continue to do so in the normal manner until you are migrated onto New Bankline. However, you will now receive notifications for cheques of all values. Once you are migrated onto New Bankline, details (and images) of unpaid cheques will be available to be viewed at 10pm, on the day that they are returned. You will also receive an unpaid cheque notification letter by post, which will contain details of any unpaid cheques on your account. |
| Additional Address Written advice of unpaid cheques are sent to a default and an alternative address. | Service will be removed | Details of unpaid cheques will automatically be sent via an unpaid cheque notification letter by post, to the address on the account that the cheque was paid into. |
| Representation Rules Unpaid cheques are represented on a number of bespoke occasions rather than the default or not at all. | Service will be removed | The ICS will automatically represent a customer’s unpaid cheque twice where an option to represent is available. |
