When do I start earning interest if I deposit a cheque?
You start earning interest on a cheque on the date it is received by us and deposited into your account. However, the money cannot be used or withdrawn until we have cleared the cheque and the money becomes “cleared funds”. Note: if the cheque is dishonoured, the amount of the cheque and any interest that has accrued on the amount (and has been credited to the account) will be debited (withdrawn) from your account.
