Quote:
Originally Posted by awesome
Yes , just like not clearing a reserve bank cheque for three days! Thought reserve bank cheque was as good as cash , apparently not any more.
Makes you wonder if the reserve bank is a bad risk and if so , why take any notice of their interest rate recommendations.
Venting completed.
Leon.
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Clearing a cheque has nothing to do with the financial standing of the bank. In most cases, it has nothing to do with the financial standing of the drawer of the cheque either. It's simply about security and the amount of theft that goes on. When you think about it, stealing a cheque drawn on the Reserve Bank is actually a sure thing as far as knowing if the cheque will be honoured on the basis of availability of funds.