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McBrides Blog

Speedier cheque clearance on the way

Article posted: 26th September 2017

Despite the move to BACS and online banking, 477 million cheques were written in the UK last year.

Clearing a cheque can take up to six working days from deposit at a bank but the Cheque and Credit Clearing Company is coordinating new arrangements which will see cheques cleared within one working day.

Banks will be able to clear cheques by exchanging photos of them (mobile cheque imaging), rather than physically transporting them back to the issuing bank.

The change will be phased in from 30 October this year with all banks and building societies moving over to this by the second half of 2018. Individual banks and building societies will inform customers in advance about their individual roll-out plans.

Barclays has already piloted this scheme but only with cheques written between its customers. It is extending its scheme from 30 October to enable customers to use their Barclays Mobile Banking app to take a smartphone photo of their cheques. NatWest has advised its customers that during the transition period cheques could be cleared using either system and so businesses banking with NatWest should be careful when writing cheques.

Andy Carey, McBrides partner, says: "While this is great news for creditors and payees, in future SMEs using cheques to pay invoices and staff will need to ensure that they have money in the bank to cover this faster clearance process. Businesses that rely on overdrafts will also need to be mindful of the impact this will have on their cash flow in the future and plan accordingly." 


Further details can be found at: and any questions can be sent to

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