The Cheque and Credit Clearing Company manages the central payment system services required for the efficient and secure exchange of cheques and credits in Great Britain. The system services include the provision of data networks, couriers, and exchange centres as well as common standards for ensuring efficient and timely processing. Occasionally projects are initiated to introduce changes to the existing processing systems.
Our current project is 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.