CHEQUE CLEARANCE

Instant cheque clearance.

Powered by Citi.

Instant cheque clearance. Powered by Citi.

You can make deposits and payments by cheque to your Citibank account in the following ways:

Cheque Clearance Guidelines:

The following tables show the clearance times for cheque payments & deposits. However, please note that:

Clearance days are based on business days in all cases. Allowances should therefore be made for Public Holidays and weekends.

While the times quoted below are based on the standard cheque clearance processes; they should only be used as a guideline. A cheque should not be considered cleared until it appears as cleared funds in your account.

When making a cheque payment to your account, it will assist us if you make your cheque payable to your Citibank account number and specify your account type e.g. Citibank Gold Credit Card account number. It would also assist us in processing your payment if you write the actual account number on the back of your cheque.

Cheques payable to the accountholder may also be accepted (e.g. dividend cheque, Medicare refund, etc) but cheques payable to a third party will not be accepted.

Received by Mail - three business days (from the time Citibank receives the cheque)

Payment Processed Credit Cards & Ready Credit^ Deposit accounts Mortgages
By Citibank on: Cheque Clearance Cheque Clearance Cheque Clearance
Monday Thursday Thursday Thursday
Tuesday Friday Friday Friday
Wednesday Saturday* Saturday* Saturday*
Thursday Tuesday next week Tuesday next week Tuesday next week
Friday Wednesday next week Wednesday next week Wednesday next week

Notes:

  • The above times are based on the day Citibank receives the cheque deposit at our processing centre and processes it. Further time should be allowed from the date you post the cheque to the cheque being received by Citibank.
  • Cash deposits will not be accepted by mail. Cash deposits should never be sent by mail under any circumstances.

National Australia Bank - three business days

Payment Processed Deposit accounts Mortgages
By National Australia Bank on: Cheque Clearance Cheque Clearance
Monday Thursday Thursday
Tuesday Friday Friday
Wednesday Saturday* Saturday*
Thursday Tuesday next week Tuesday next week
Friday Wednesday next week Wednesday next week

Notes:

  • Cash transactions for Deposit accounts are treated as cheques for clearance purposes.
  • For mortgage accounts, cash will clear immediately.
  • Credit Cards & ReadyCredit payments are not accepted at NAB Branches.
  • National Australia Bank will accept payments to an account in a business name.

Australia Post - Up to seven business days

Payment Received Credit Cards & Ready Credit^ Deposit accounts Mortgages
By Australia Post on: Cheque Clearance Cheque Clearance Cheque Clearance
Monday Tuesday next week Saturday* (or Wednesday if the cheque is over $5,000) Saturday*
Tuesday Wednesday next week Tuesday next week (or Thursday if the cheque is over $5,000) Tuesday next week
Wednesday Thursday next week Wednesday next week (or Friday if the cheque is over $5,000) Wednesday next week
Thursday Tuesday next week Wednesday next week (or Friday if the cheque is over $5,000) Wednesday next week
Thursday Friday next week Thursday next week (or Saturday* if the cheque is over $5,000) Thursday next week
Friday Saturday* next week Friday next week (or Tuesday if the cheque is over $5,000) Friday next week
Saturday Tuesday next week Saturday* next week (or Wednesday if the cheque is over $5,000) Saturday*

Notes:

  • Clearance times are longer through Australia Post than other channels as Australia Post is an agent, not a financial institution.
  • If you have been issued with a card (credit card or Citicard) and you swipe your card when making the payment; the payment is processed immediately.
  • If you pay in after 6.30pm Sydney time the payment is processed at 6.30pm the following business day.
  • Where you are paying in cash and cheques to a deposit account, Citibank advises you to pay cash and cheque elements in on separate deposit slips to ensure cash is cleared promptly without being subject to cheque clearance times.
  • Australia Post will not accept payments to an account in a business name. It is recommended that business account holders use National Australia Bank branches.

^ Including Personal Credit, Business Credit and Diners Club Credit Line

* Where clearance falls on a Saturday, you can access funds via ATM/EFTPOS/Australia Post , or make deposits & payments via CitiPhone Banking and Citibank Online.