Cheques
What is special presentation or special clearance?
To enable the recipient of a cheque to know as soon as possible whether it will be paid, they can ask their bank to specially present that cheque. Their bank then sends the cheque by first-class post directly to the paying bank, contacting them by phone on the following working day to confirm whether it will be paid. The payee may not receive the funds any sooner, but has the knowledge that there are sufficient funds to pay the cheque.
