How long does it take for foreign cheques to clear?

How long does it take for foreign cheques to clear?

Foreign cheques are processed either by cheque negotiation or collection. The time it takes for a cheque to clear depends on which method we use to process the cheque. Regardless of whether a cheque is negotiated or collected it can still be returned up to seven years later for reasons relating to fraud.

  • Cheque negotiation - It takes 2 working days for the funds to be credited. Cheques can be returned unpaid for up to 7 years
  • Cheque collection - Payment is made when we receive the funds from the bank abroad. This can take up to 12 weeks to clear. This is subject to additional fees levied by the overseas bank

International bank to bank electronic transfers

Electronic transfers will usually be in your account the same business day as we receive it from the senders bank.

All you need to do is provide your IBAN and BIC to the remitter, Where can I find my IBAN and BIC numbers?

Please see our Bank to Bank electronic(opens in a new window) page for more information receiving electronic transfers.

Please note: We no longer accept New Zealand (NZD) cheques.