We promote a savings and investment culture while providing affordable credit for the enhancement of the economic and social welfare of our members and other stakeholders

+ 254 (020) 5006060

info@kingdomsacco.com

Empower House, Githurai 45, Thika Road

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Kingdom Sacco Society Limited

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Cheque Clearing

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Cheque Clearing

Kingdom SACCO provides Cheque Clearing services to allow members and businesses to deposit and clear cheques through their FOSA accounts. This service is designed to make it easy for members to access funds from cheques drawn from other banks or institutions.

Key Features of Cheque Clearing

Members can deposit cheques at any of our branches. Simply present your cheque to the teller for processing, and we’ll handle the rest.

Cheque clearing typically takes 2 to 5 working days, depending on the bank or institution that issued the cheque. This ensures your funds are safely and securely transferred to your account.

Once the cheque clears, the funds will be available in your FOSA account for withdrawal, transfers, or other transactions

We prioritize security in cheque transactions, ensuring that all cheques are verified and processed in compliance with banking regulations

Benefits of Cheque Clearing:

  • Flexible Payments: Accept payments by cheque from clients, customers, or business partners and deposit them conveniently into your Kingdom SACCO account.
  • Financial Convenience: Once cleared, funds are immediately accessible, enabling you to manage your finances or reinvest as needed.
  • Business Support: This service is ideal for businesses and members receiving large or regular payments by cheque, offering a secure way to handle funds.

How to Use Cheque Clearing:

  1. Deposit the Cheque: Visit any Kingdom SACCO branch with your cheque and present it at the teller for processing.
  2. Provide Details: Ensure the cheque is properly filled out and includes your account information.
  3. Wait for Clearing: After submission, the cheque will go through the clearing process, which takes 2 to 5 working days. You will be notified once the funds are available in your account.

Notes:

  • Cheques drawn from banks within Kenya generally clear within 2 to 5 days.
  • Post-dated or incomplete cheques may not be accepted.
  • Cheques must be written in accordance with banking regulations to avoid delays or rejection.