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From late November 2007, new industry minimum clearing standards are being introduced by all banks.

This (allegedly) will provide us all with greater certainty on whether a cheque paid into our account has actually been paid.

This is being referred to as ‘Certainty of Fate’.

Some more news is that in 2008, banks will offer a new payment solution that will provide same-day clearing of electronic payments.  I have no idea how much they will charge us for this service which I’ve seen classified as “near real-time basis”.

You know what banks are like, they make things sound much more complicated than they really are so I suggest you all check out your own branch for advice on this key change to banking.