From Friday bank account holders will earn more interest on cheques paid into their account. UK banks and building society will have to pay interest on money paid in by cheque after two working days. Customers will also be able to withdraw money after four days if they are paying into a current account. The cheque will also be guaranteed even if it bounces after six days. Some banks like Lloyds TSB already pay interest on cheques once they have been deposited but the new rules will make the practice common place.
