I paid by cheque at a retailer and the funds left my account within two days. Why?
Some large retailers, by special arrangement, may pay cheques directly into their bank’s clearing centre, effectively by-passing part of the clearing cycle. Alternatively, if both the customer and the retailer hold accounts at the same bank branch the cheque would not have to pass through the central cheque clearing. It is important that customers always make sure they have sufficient funds in their account before writing a cheque.
Related Questions
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- I paid by cheque at a retailer and the funds left my account within two days. Why?
