Cheque Clearing - What are the changes?
The process of cheque clearing in the UK will undergo an important and necessary change. The main difference is that instead of exchanging physical paper cheques, UK banks will begin to exchange digital images of these cheques.
This will enable faster cheque processing but it will not change how you currently use cheques. It simply means payments will go in and out of your account quicker, allowing cheques to clear in 2 working days instead of 6.
From the end of April 2018 we started to process a very small number of Ulster Bank cheques that have been paid in at other banks through the new Image Clearing System (ICS). Instead of sending the paper cheque to Ulster Bank, the other bank sends a digital image of the cheques for Ulster Bank to process.
More information is available at the Cheque & Credit Clearing Company Website(opens in a new window).
We have also attached a list of questions to support you with this change below.
General Questions
How long does it take for a cheque to clear? will give you all the information you need on cheque clearing before the changes come into effect