Submitted on Friday 19th July 2013
Published on Friday 19th July 2013
Current status: Closed
Closed: Saturday 19th July 2014
Signatures: 4
Reduce cheque clearing time to three days maximum.
In the 21st. century it should not take 5 days for a cheque to clear. As such we want the maximum clearing time for cheque's bank to bank or building society to bank or any financial transaction that requires clearing to have a maximum clearing time of 3 days.
5 day clearing is having a detrimental effect upon small local business's in that it impedes their cash flow etc.
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