2-4-6 changes to cheque clearing
The 2-4-6 changes were introduced in November 2007. They set a maximum time limit of two, four and six working days for each of the stages after paying in a cheque to a current or basic bank account. The changes cover cheques, bankers' drafts, bankers' cheques and building society cheques paid in to sterling current account and basic bank accounts.
For savings accounts the maximum time limit for withdrawal (where withdrawals are allowed) is longer (6 days, rather than 4), these are known as 2-6-6.
To find out more follow the links below:
If you are an agency bank and would like to find out more you should speak to your contact at your settlement member.