T = Transaction day: The day a cheque deposit will appear as a credit on your account
T+2 = Transaction day plus 2 clearing days: The day you will start to earn interest on a cheque deposit. Or, the day the value of the cheque deposit will start to reduce the interest charged on your overdraft.
T+4 = Transaction day plus 4 clearing days: The day you can withdraw against the cheque deposit in your current account. (Until 'certainty of fate' is reached a cheque can still be returned unpaid and the deposit removed from your account).
T+6 = Transaction day plus 6 clearing days: The day you can withdraw against the cheque deposit in your savings account.
T+6 = Transaction day plus 6 clearing days: The last day the cheque deposit can be debited from your account without your permission. After this day you will have 'certainty of fate'.
Please note: Clearing days are equivalent to business working days and do not include weekends or bank holidays: example - if T is Monday then T+2 is Wednesday, or if T is Friday then T+2 is Tuesday. There may be limited circumstances beyond the bank's control, where payment or non payment of a credited cheque may be delayed or not presented. For example - if the cheque is involved in a fraudulent situation.