Understanding Cheque Truncation System in Banking
Understanding Cheque Truncation System in Banking
2 months ago
cgaa.org
🏦Read Caption: The Cheque Truncation System (CTS) from batch processing to a continuous, near real-time model called "Continuous Clearing and Settlement on Realisation" to speed up cheque clearance, with Phase 1 starting October 4, 2025, and full implementation by January 3, 2026. This new system significantly reduces the time for funds to become available from days to a few hours, with settlements occurring hourly after the initial scanning and presentation. Banks process cheques continuously
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