cheques
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UK banks finally learn how to clear cheques in a day
Despite a huge rise in online and contactless payments, cheques are still ridiculously popular. In 2016 alone, Brits sent over 477 million of them, making their recipients wait up to five days to get their hands on the money. For decades, the Cheque and Credit Clearing Company has facilitated this delay by requiring banks to send them to a clearing centre -- which involves a system of checking, verifying and transportation around the country -- but that wait will soon be reduced to one day under new rules unveiled today.
