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Bank cheques to be cleared within a day
At the moment, the process can take up to six days. The organisation that manages the cheque clearing system said the changes would be phased in from October 2017. However, it will be the second half of 2018 before all UK banks and building societies are able to offer the faster service. Under thenew arrangements, co-ordinated by the Cheque and replica watches Credit Clearing Company, banks will be able to clear cheques by exchanging pictures of them. At the moment, all cheques have to be physically transported back to the bank that issued them. "These changes will put cheques firmly in the 21st century, delivering real and important benefits for the many individuals, charities and businesses that regularly use cheques," said James Radford, chief executive of the Cheque and Credit Clearing Company www.scontoorologi.com. "Not only will cheques clear faster but banks and building societies may offer their customers the option of paying in an image of a cheque rather than the paper cheque itself." Image copyrightGETTY IMAGESImage captionSome customers can already pay in cheques via banking apps Barclays already allows some of its customers to pay in cheques via pictures on their banking apps. However at the moment they have to be cheques issued by Barclays. Although cheque use has declined in recent years, there were still 477 million written in the UK last year. The industry had wanted to phase them out entirely by 2018. However MPs said they should be retained, as many older people in particular relied on them. breitling replica watches
 
 
Posted: 10:47:02 - 23/03/2017

 

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