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Cheques will clear within one day in­stead of up to six un­der a new faster pay­ment plan start­ing on Oc­to­ber 30. Un­der the new sys­tem, you’ll be able to with­draw the funds by mid­night the next week­day. How­ever, many banks will al­low cus­tomers to ac­cess funds ear­lier than this. Cheques will be paid in us­ing a dig­i­tal im­age, rather than send­ing them back to the is­su­ing bank. Some banks will also give cus­tomers the op­tion of pay­ing in a cheque via a mo­bile bank­ing app on their smart­phone or tablet.

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