![]() You may write the words 'not negotiable' between the two parallel lines on your cheque. If NAB does cash a crossed cheque, it may be liable for any loss suffered by the true owner. The cheque therefore must be paid to a bank (e.g. If you cross a cheque (by drawing two parallel lines from top to bottom across the front of the cheque), you are telling NAB not to cash it over the counter. This rule applies even to cheques made payable to 'cash'. Normally you will not be able to withdraw the value of a cheque you deposit until the cheque is cleared, even though your account will be immediately credited with the proceeds of the cheque. Only after the completion of these steps will the cheque be cleared. The steps involved in clearing a cheque are usually: you deposit a cheque you have received into your NAB account we will seek payment of the cheque from the bank on which the cheque is drawn and the bank will pay the proceeds of the cheque to your NAB account. Generally it will take three working days from the time you deposit the cheque until the proceeds are available as cleared funds in your account. When NAB receives your cheque for payment: it is deemed to be a request by you to NAB to withdraw funds from your account for the amount shown on the cheque it is an authority to pay those funds to the payee of the cheque or to the payee's bank and if there are not enough cleared funds in your account, NAB may dishonour or pay the cheque at its discretion. When signing a cheque you must: provide your full signature against each alteration you make and date the cheque on the date it was signed and complete all details. When you write out a cheque, it must be completed properly and with care to avoid fraudulent alteration, and be signed in accordance with the signing authority you have given NAB. Please note, the special clearance is no longer available. Looking for information about bank cheques? Check out our bank cheque page. If you have cheque access, the following features apply. Some of NAB's banking services provide cheque access. ![]() A cheque is a written order to NAB to pay a sum of money on demand.
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