CHEQUE CLEARANCE PERIODS

with Effect from 8 November 2011
Key
  • P = Cheque paid in
  • I = Funds start earning interest and are available for withdrawal
  • C = Funds cleared with certainty

Current Account Plus and Current Offset cheques under £5,000

Example: A cheque paid in on a Monday will earn interest from Wednesday and be available for withdrawal from start of business on Wednesday. Clearance with Certainty occurs from Close of Business on Tuesday week.

Day M T W T F S S M T W T F S S M T
M P I C
T P I C
W p I C
T P I C
F P I C
S P I C

All cheques for Cumberland Plus, Cumberland Offset, Reward Current, Current, Cumberland Day2Day and Money Management Accounts and Current Account Plus and Current Offset cheques £5,000 and over

Example: A cheque paid in on Monday will earn interest from Wednesday and be available for withdrawal from start of business on Friday. Clearance with Certainty occurs from Close of Business on Tuesday week.

Day M T W T F S S M T W T F S S M T
M P I W C
T P I W C
W p I W C
T P I W C
F P I W C
S P I W C

All other Savings, ISA, Cashcard and Cashcard Flex Account cheques

Example: A cheque paid in on Monday will earn interest from Wednesday and be available for withdrawal from start of business on the following Monday. Clearance with Certainty occurs from Close of Business on Tuesday week.

Day M T W T F S S M T W T F S S M T
M P I W C
T P I W C
W p I W C
T P I W C
F P I W C
S P I W C

The tables show the clearance periods for cheques paid into the various types of accounts on different days. Note that a cheque could be returned unpaid after it is available for withdrawal. The funds can be recovered from the account until close of business on the day indicated as ‘clearance with certainty’. After clearance with certainty, the funds cannot be recovered without the customer’s permission unless they are a knowing party to fraud.

Bank holidays will extend the clearance period. Remember to add an extra day(s) if there are one or more English bank holidays between the day on which the cheque is paid in and the day indicated for withdrawal/clearance with certainty.

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Your eligible deposits with Cumberland Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. Any deposits you hold above the limit are unlikely to be covered.

Further information is available here or visit www.fscs.org.uk.