Cheque Imaging | The New Service Explained

What is cheque imaging?

Cheque imaging has changed the way that cheques are processed, meaning digital images of cheques are exchanged between banks and building societies within the UK for clearing and payment.

Cheque imaging has significantly reduced the clearing timescales of cheques, postal orders, sterling traveller’s cheques, banker’s drafts and dividend cheques. This only applies to cheques which are drawn on UK banks and paid into a UK bank account.

Note: We no longer accept foreign currency cheques to be paid into accounts.

What are the new cheque clearing timescales with cheque imaging?

For cheques I have written

Cheque Imaging is still being rolled out across all banks and building societies within the UK and is due to be fully established in 2019.

If you have written a cheque and this is paid into a bank or building society using cheque imaging, it should debit your account after two Business Days, instead of three, once the cheque has been presented for payment at the payee's bank.

For cheques I have paid into my smile account

For cheques you pay into your account, once we receive the cheque, it will clear and credit within two Business Days, instead of six.

Once the cheque is credited, if applicable, you will then start to earn interest or interest charges will start to reduce on your overdraft. If a cheque you deposit isn’t paid, then a credit won’t appear on your account and a letter will be sent to notify you of this.

If you are paying a cheque into a Co-operative Bank branch, you should expect to see the cheque clear and credit your account within two Business Days.

If you are paying a cheque into a Post Office®, you should expect to see the cheque clear and credit your account within four Business Days. Note: When paying in at the Post Office®, please ensure you enclose a paying in slip to avoid any unnecessary delays in processing your cheque(s).

If you are posting a cheque to us, it can depend on how long the post takes to reach us, but once we receive the cheque it will clear and credit the account within two Business Days. Please ensure you enclose a paying in slip to avoid any unnecessary delays in processing your cheque(s) and post it to the following address:

Please post your cheques to:

Co-operative Bank p.l.c

PO Box 12672

Sandringham House

Sandringham Avenue

Harlow

Essex

CM20 9QR