Cheque Clearance Cycle

All cheques pass through a cheque clearance cycle and below is a general guide. Please view our Cheque Clearance Times for full details.

		You receive a cheque The cheque is deposited to your Wide Bay account. We will send the cheque to our bankers who electronically forward the cheque overnight to the financial institution from where the cheque is to be paid.

		Cheque is paid with the cheque writer’s account debited	Cheque is dishonoured due to insufficient funds or another technical reason. Overnight – dishonour details transferred to our bank

		Wide Bay awaits notification of possible dishonour from bank	Your bank forwards Wide Bay an electronic dishonour notice. We debit your account for the amount of the cheque and the dishonour fee. A letter is mailed to you advising of the dishonour and fee, and the unpaid cheque (if available) will be enclosed for referral to the cheque writer

		Funds deposited are made available to you for withdrawal