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In addition, the Dedicated Cheque and Plastic Crime Unit, funded by the banking industry targets organised criminal gangs heavily involved in counterfeiting.
A cheque may be returned later than day 5 if it is found to be fraudulent.
A high rent may not always indicate a better standard of accommodation.
Key factors influencing rent levels are location (with rents in areas close to the University usually higher than in other parts of the city) and property size (with both large houses and studio/one bed properties costing more due to high demand for these property sizes).
At the same time, all banks calculate the amount they must pay each other on the basis of the value of all the cheques exchanged on the previous day.
The net balances are then settled across accounts held at the Bank of England. However, if the paying bank was unable to pay the cheque, for instance if the cheque owner has insufficient funds in their account, placed a stop on the cheque, or filled it out incorrectly, it would return the cheque to the original collecting bank on day 3, or in certain specific circumstances, by 12 noon on day 4.