Cheques: What the bank does

• The bank can accept the cheque subject to clearance or settle it under usual reserve (OGV).
• If the bank accepts the cheque subject to clearance, it will first check whether it is valid and there are sufficient funds in the account. If this is the case, the amount will be paid into your account.
• If the bank settles the cheque under usual reserve, you receive the amount immediately in your account, even though the bank is not yet certain whether the cheque is good. If the cheque subsequently bounces or is found to be forged or counterfeit, your account will be debited again.