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  5. What will the clearing timescales be through the Cheque Imaging service?

What will the clearing timescales be through the Cheque Imaging service?

Cheque Imaging will reduce the cheque clearing cycle from 6 business days to 2. For example a cheque paid in on a Monday will be cleared by the end of the following business day -Tuesday, assuming that the cheque can be paid.

From 30th October 2017 any cheques you write which have been paid into a Bank using the new digital clearing cycle, will debit your account on day 2 instead of day 3. Cheques paid in to The Co-operative Bank will continue to be processed using the existing cheque clearing cycle and not the new digital clearing cycle until we launch this part of our service in 2018.

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