Data for processing a check payment

A written instruction to NAB to pay a specified amount of money on demand is called a cheque. Check access is available through a selection of NAB's banking services. If you have access to cheques, the following characteristics apply to you: Searching for information pertaining to bank cheques Check out our bank cheque page

I regret to inform you that access to the special clearance is no longer possible.

The act of writing a check

When you write a check, it needs to be filled out correctly and carefully to prevent fraudulent alteration. Additionally, it needs to be signed in accordance with the signing authority that you have given NAB.

When you sign a cheque, you are required to do the following: provide your full signature next to each change you make; date the cheque on the date it was signed; and fill out all of the details.

When NAB receives your cheque for payment, the following are true: it is considered 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 bank of the payee of the cheque; and it is deemed to be a request by you to NAB to withdraw funds from your account for the amount shown on the cheque. additionally, if there are not sufficient cleared funds in your account. At its sole discretion, NAB may either refuse to honor the check or pay it.

Getting a check to clear

After you have deposited the check, it will typically take three business days for the proceeds to become available in your account as cleared funds.

The process of clearing a check typically consists of the following steps: first, you deposit a cheque that you have received into your NAB account; second, we will seek payment of the cheque from the bank on which the cheque is drawn; and third, the bank will pay the proceeds of the cheque to your NAB account. The check will not be considered cleared until all of these steps have been finished.

In most cases, you will not be able to withdraw the value of a check that you deposit until the check has been cleared, despite the fact that your account will be credited with the proceeds of the check immediately after the check is deposited. Even checks that are made payable to "cash" are subject to this regulation.

The consequence of crossing

If you "cross" a cheque (by drawing two parallel lines from top to bottom across the front of the cheque), you are indicating to NAB that the cheque should not be cashed over the counter. Because of this, the check needs to be cashed at a bank (such as g into the account of a particular customer) If NAB cashes a crossed check, the company could be held liable for any loss incurred by the true owner of the check.

Definition of the phrase "not negotiable"

Between the two lines that are parallel on your check, you have the option of writing the words "not negotiable." This indicates that the person who obtains the check has the same legal rights to it as the person who originally gave it to them, even if the check is subsequently transferred to a third party.

For instance, if the cheque was stolen, the person whose cheque was stolen might be able to recover the amount of the cheque from the person who received payment, despite the fact that the person who received payment might not have committed any violations of the law.

Definition of the phrase "account payee only"

Between the two lines that are parallel on your check, you have the option of writing "account payee only." When you write these words on a check, you are instructing the bank that is accepting the check to make the payment only to the account that is associated with the person whose name is written on the check. If someone other than the payee makes an attempt to deposit the check into their own account or cash the check, the bank is notified that they need to conduct further investigation into the matter.

If NAB negligently pays the proceeds of the check to a person who is not the payee, the bank could be held liable to the person who is actually the owner of the check. Even though they say "account payee only" on the check, it is still possible to cash it.

Importance of omitting "or bearer" from the phrase

The words "or bearer" are typically printed at the bottom of checks, at the end of the line where the payee's name is written. This line is located above the line on which the amount is written.

The phrase "or bearer" indicates that the bank that the check is drawn from is obligated to pay the amount of the check to the person who currently has possession of the check, regardless of whether or not that person found the check or stole it. unless the bank has reason to suspect that the check has been used fraudulently, they will not cancel the transaction.

If you would like to change this position, the simplest way to do so would be to erase the words "or bearer" from the sentence. Because of this, the cheque will be considered an "order" cheque. If the check is an "order" cheque, the bank that is drawn on must only pay the cheque to the person who is named as the payee or to a person to whom the check has been endorsed. This applies even if the payee is the same person.

Hold up the payment

Calling 13 22 65 from any phone in Australia will allow you to cancel the payment of your cheque before it has been presented for payment. Hours of operation are 8:00 am to 7:00 pm (AEST/AEDT) Monday through Friday, and 9:00 am to 6:00 pm (AEST/AEDT) Saturday and Sunday. customers who are individuals or 13 10 12 callers from Hours of operation are 8:00am to 8:00pm (AEST/AEDT) Monday through Friday, and 9:00am to 6:00pm (AEST/AEDT) Saturday and Sunday. customers operating businesses

If you have access to NAB Internet Banking or NAB Telephone Banking, you are able to give us an instruction to stop a payment at any time, day or night, seven days a week. Alternately, you can contact any NAB branch, either in person or by phone, with your request.

Check payments can be stopped by NAB in the following circumstances only:

• There has been no presentation of the cheque for payment.
• The information that you give is correct (for instance, the cheque number(s) that you provide are accurate).

No matter what method you choose to use to notify NAB, it is imperative that you do so as soon as possible if you wish to halt payment. If you contact us by phone, we will immediately put a hold on the cheque's payment (provided that it has not already been presented for payment), and we may also ask for your written confirmation at this time.

It is essential to properly identify the cheque by including all of the following information: the account name and number; the cheque number and amount; the date on which the cheque was written; and the name and address of the person to whom the cheque is payable.

Between the hours of 9 p.m. and 4 a.m. inclusively, Australian Eastern Standard Time (AEST) and Australian Eastern Daylight Time (AEDT), stops cannot be placed on a single cheque or a sequence of cheques using any channel, including NAB Internet Banking.

1. Visit the homepage of NAB Internet Banking and enter your NAB Identification number (ID) as well as the password for NAB Internet Banking.

2. From the main menu, navigate to the section labeled Account information, and then select the option labeled Stop Cheque from the submenu.

3. Use the drop-down menu labeled "Select account" to choose the account for which you want the cheque payment to be stopped.

4. From the drop-down list titled "Reason for stopping the cheque," select the reason why you want the cheque to be stopped. It is possible to charge a fee of fifteen dollars for each stopped check.

5. Make your choice between:

• single cheque - Enter one cheque number
• range of cheques: If you want to stop, enter the number of the first cheque, and if you want to stop, enter the number of the last cheque.

The following sequence must be used for cheque numbers:

• in numerical order (for instance, 003 through 005 refers to cheques 3, 4, and 5)
• inclusive (for example, requesting a stop on cheques 003 through 005 indicates that you want the stop placed on all of the cheques, not just the fourth one)

6. Click Submit Your request has been sent

If you ask NAB to put a hold on the payment of a cheque, they might assess a fee for doing so; if they do, we will let you know about the cost at the time you make the request. The NAB's Personal Banking Fees and Charges Guide also contains information regarding the fee.

Making a check deposit into either your transaction account or your savings account

You can make a deposit of cash or a check into your NAB Everyday Banking account at the NAB branch that is most convenient to you, at any of the NAB ATMs that are accepted, or even with your smartphone.

Become familiar with the process of depositing a check using a mobile device.

Making a deposit with a check that was written in both of your names

Only joint bank accounts are able to process cheques that are made out to both parties.

Checkbook has not yet been delivered.

If your cheque book has not arrived after ten business days, please call 13 22 65 between 8am and 7pm Monday through Friday (AEST/AEDT) and between 9am and 6pm on weekends, or 61 3 8641 9083 if you are calling from outside of Australia.

Place a new order for a chequebook or deposit register.

Through NAB Internet Banking, you have the ability to reorder a cheque or deposit book. In the Accounts section of NAB Internet Banking, select the Re-order Book option by clicking on its button.

As long as you continue to use the Express Business Deposit (EBD) specific deposit books (either standard or agent books, these books have EBD credit printed on each deposit slip), you are also able to re-order a supply of Express Business Deposit (EBD) bags through NAB Internet Banking.

Please discuss the possibility of ordering the EBD specific deposit book with your local branch or banker if you do not already make use of it.

Between the hours of 9 p.m. and 4 a.m., inclusively, Australian Eastern Standard Time (AEST)/Australian Eastern Daylight Time (AEDT), re-orders on cheques or deposit books cannot be placed through any channel, including NAB Internet Banking.

Cheques that have been tampered with without your permission

When you write a check, you should take precautions to reduce the likelihood that it will be forged or fraudulently used.

When writing a check, make sure not to leave any spaces between the words or the figures; begin the amount in words as close as possible to the left hand side; begin the amount in figures as close as possible to the dollar sign ($); never use pencil or ink that can be rubbed off; and finally, make sure not to leave any spaces between the words or the figures. out; never sign a check before it is used or filled out; and always write the amount in words because words are harder to change than numbers. These are some of the rules that should be followed when writing checks.

Ignoring payments made by check

Under certain conditions, NAB reserves the right to return your check to you as unpaid or "dishonor" it altogether at its discretion. These include the following: there are insufficient funds available in your account to cover the amount of the check; there is some irregularity with your cheque, such as the fact that it is unsigned, that it is older than 15 months, or that it is post-dated (i.e., it has passed its expiration date); or there is some other problem with your cheque. e the date on the check does not correspond to the current time, or the check has been significantly altered (including, g by an alteration to the amount that was initially stated on it) and you may not have provided your full signature against the alteration; you have instructed NAB to stop payment of your cheque; or NAB has received notice of your mental incapacity or of your death. These are the reasons why your check may not have been paid.

Your check may be returned to you by NAB with an additional fee. The NAB's Personal Banking Fees and Charges Guide also contains information regarding the fee.

Cheques drawn on a third party

It is referred to as a third party cheque whenever a cheque is presented for payment into the account of, or to, a person who is not the nominated payee of the cheque.

NAB will carefully establish, regardless of whether the cheque is open or crossed, whether the bearer is authorized to hold the cheque in their possession. If we make a payment to an unauthorized person, NAB could be held liable to the person who drew the check or the true owner of the account, unless we acted in good faith and did not act negligently. If the cheque is for an "order," the payee needs to sign the back of the document before it can be cashed.