3 replies 8.5K views persil Forumite. If you mean the bank is holding the cheque for verification before releasing the funds, these are the regulations, For cheques under $1,500, if you personally had it to the teller, 4 working days, if by ABM 5 days. 19 posts. Halifax cheque clearing time? Most UK banks now use cheque imaging, which allows cheques to clear faster – by 23:59 the next weekday (except bank holidays) and in many cases, earlier (as long as the cheque hasn’t bounced). A quicker clearing time also means that when you have written a cheque, money will leave your account sooner than it did under the old '2-4-6' clearing process. It takes from three to five working days to clear cheques. Thus, if you have the overdraft available, you can actually withdraw the cash instantly - you'll technically be overdrawn until Day 4, but there'll be no charge since for interest/fee purposes you are in credit. ONE of Britain's biggest banking groups is extending its cheque clearance time by two days. How long do the Halifax take to process a cheque? ... Favourite answer. Halifax and cheque clearing time. 20 November 2012 at 10:56AM edited 30 November -1 at 12:00AM in Budgeting & Bank Accounts 5 replies 122.2K views The basic cheque clearing cycle doesn't include any days at all where the banks skim off interest. The current lockdown means our branch opening hours have changed. The profit motive simply doesn't apply to the basic cheque clearing process. The time it takes for money orders to clear will be similar to that of cashier’s checks — so one business day. All sterling cheques are processed via the Image Clearing Scheme – this scheme is much faster than the previous Paper Clearing Scheme and operates a two-business-day clearing cycle. Example for Paper Clearing Process: Pay in a cheque on Monday before the Post Office cut off time. The money is always in one customer's account, or the other's (the recipient's or the payee's). 24 February 2014 at 5:42PM edited 30 November -1 at 12:00AM in Budgeting & Bank Accounts. For current accounts, at least, Halifax operate under 0-4-6. Please check our branch locator if you need to visit for the latest information.. Over $1,500, 7 business days and 8 business days respectively. It depends on two banks - so if your account is with the Halifax it will also depend on which bank issued the cheque in the first place. The cheques will follow the normal cheque clearing cycle once we have received them from the Post Office. You should always ensure you have sufficient funds in your account prior to writing a cheque. 24 February 2014 at 5:42PM edited 30 November -1 at 12:00AM in Budgeting & Bank Accounts. The safest way to bank with us right now is from home either using our app or through Online Banking. 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