Bank customers who pay cheques into their accounts will soon be able to get the money cleared within one working day.

At the moment, the process can take up to six days. The organisation that manages the cheque clearing system said the changes would be phased in from October 2017. However, it will be the second half of 2018 before all UK banks and building societies are able to offer the faster service. Under the new arrangements, co-ordinated by the Cheque and Credit Clearing Company, banks will be able to clear cheques by exchanging pictures of them. At the moment, all cheques have to be physically transported back to the bank that issued them.....Read more here