Summary
THE majority of consumers have no idea how long they need to wait before they can be sure a cheque will not bounce.
New rules were introduced in November 2007, under which if a cheque had not bounced within six days of being paid into an account the recipient could be confident the money was theirs. Previously a cheque could bounce months after it had been paid in, leaving consumers uncertain as to whether the money was actually theirs.See the full content of this document
Extract
Cheque Clearing Rules 'Unclear to Majority'
Three years after the rules wer...
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