cheque clearance timecheque clearance time

Cheque clearing takes time only because of cheques submitted in non clearing branch. The day when you submit your cheque in clearing in branch that day it will be presented in clearing known as their outward clearing.

It will go to their service branch online and will be set to the branch of which cheque is and that is known as inward clearing of that branch. Kindly do not get confused please check the example below.

EXAMPLE : Cheque is of Axis bank and the credit account is of BoB bank. You will submit the cheque to your Bob bank. Here Bob bank is outward clearing and Axis bank is inward clearing.

In short your bank will give outward on evening and the bank of which cheque is give it in the morning and therefore money will be credited the next day in evening.

When branch closes money will be credited to your account on next day. So it take minimum 2 days for the cheque to get clear including the day of submit and the day of crediting.

But when you submit your cheque in rural branch or the branch which is small and do not have clearing facility. The cheque will be sent by post or courier to the nearest branch having clearing facility. This is why it take more time than 2 days. Without making you confused as a banker i am giving you the insights. Minimum days taken is the the next day late evening.

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