Cheque Clearance How long?

GJenkins

I always understood a cheque to clear within 3-7 days after you cash it. But was told by a friend that they had heard or read from somewhere that while this is the case, it could still bounce back even if it had originally cleared, this could happen after 45 days...
Anyone know if this is true and what website or source did you get this from?
Many thanks!

gt94sss2

GJenkins wrote: »

I always understood a cheque to clear within 3-7 days after you cash it. But was told by a friend that they had heard or read from somewhere that while this is the case, it could still bounce back even if it had originally cleared, this could happen after 45 days...
Anyone know if this is true and what website or source did you get this from?
Many thanks!

Your friend is right - cheques never clear and can be bounced at any time. However. banks tend to allow you access to the funds after 3-5 days as they are less likely to bounce after that period.

Note: the rules are changing in November and after that, banks will no longer be able to bounce cheques after 6 days - apart from cases of fraud.

See here and here for more information

Regards
Sunil