Originally Posted by
C4llyT
Has it changed recently?
Sorry might have missed something.
i remember not that long ago someone had money taken out months after cheque had cleared - when it was discovered to be stolen, which could take a bit of time in some circumstances.
I remember it seeming a bit shit way it worked.
The Cheque clearing cycle changed November 2007. All details are on the link i posted earlier.
The idea is to make it easier for people to understand so they (The British Bankers Association) introduced an industry wide system.