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How will cheque credits I receive via the new digital cheque clearing cycle affect my statement?

Where you are the beneficiary of a cheque processed digitally, funds will only be credited to your account if the cheque is cleared by the cheque issuing bank. This means that we will no longer credit your account with the value of the cheque whilst we confirm the cheque payment decision from the other bank. Once a payment decision has been confirmed, we will either credit the funds to your account if the cheque has cleared (leaving a credit entry on your statement), or apply no entry on your statement if the cheque hasn’t cleared (no debit entry on your statement). If a cheque hasn’t cleared we will also notify you in writing.

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