The Cheque and Credit Clearing Company is a non-profit making industry body funded by its members. It has managed the cheque clearing system in England and Wales since 1985 and in Scotland since 1996.
As well as clearing cheques, the system processes bankers’ drafts, postal orders, warrants, government payable orders and travellers’ cheques.
The Cheque and Credit Clearing Company also manages the systems for the clearing of paper bank giro credits and euro cheques (drawn on GB banks).
The Company provides a range of professional services to members including:
- operational management
- technical advice
- project management
- risk and compliance management, and
- secretariat and regulatory consultation.
In addition the Company engages with stakeholders through a programme of seminars, forums and newsletters, as well as via this website.
The clearing of cheques and credits, and the clearing of euro cheques, in Northern Ireland is managed by the Belfast Bankers’ Clearing Company.
The company works closely with the Belfast Bankers’ Clearing Company to ensure that customers receive a consistent level of cheque clearing service regardless of where they are based in the UK. This includes working together on the Company’s current project to revolutionise how cheques are cleared in the UK. The new ‘Image Clearing System’ (ICS), where digital images of cheques will be exchanged and cleared, will bring cheque clearing in the UK firmly into the 21st century.
Find out more about the Cheque and Credit Clearing Company, the history of cheques and more here.