Cheque checker

The tool on this page will help you work out the maximum timescales for each of the following key stages after you pay in a cheque:

1. when you start to earn interest;

2. when you are able to withdraw the money;

3. when the money is yours to keep.

Saturday 4th July 2009	Day 0: Cheque paid in ¹You can pay in a cheque in a number of ways - across a branch counter, at a cash machine, by post or at a post office. This may affect when your bank actually receives the cheque. You may also need to deposit a cheque before a specified cut-off time, so if certainty is important to you, you should check with your bank or building society.
Sunday 5th July 2009	-
Monday 6th July 2009	-
Tuesday 7th July 2009	-
Wednesday 8th July 2009	Day 2: Interest earned ²If your account pays interest on credit balances it is also the point at which this money will reduce the balance on which overdraft interest is charged.
Thursday 9th July 2009	-
Friday 10th July 2009	Day 4: Withdrawal allowed
Saturday 11th July 2009	-
Sunday 12th July 2009	-
Monday 13th July 2009	-
Tuesday 14th July 2009	Day 6: The money's yours ³At the end of this day you can be certain that the funds will not be taken back from your account without your consent, as long as you have not been a knowing party to fraud.

This tool uses the industry-wide maximum time limits that exist for each of the above stages in the cheque clearing process. Banks and building societies will compete to offer shorter timescales for interest and withdrawal so your bank or building society may beat these guaranteed time limits.

The way you pay in your cheque and the type of account you pay into will also affect how quickly your cheque clears. Withdrawal times for savings accounts are longer and withdrawals can only be made if you have an account that allows you to make them. Make sure you always use an account best suited to your needs.

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Cheque checker

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