I have just deposited a banker’s draft in GBP in my GBP account at HSBC Bank Malta. I was extremely surprised to find out that it was marked as uncleared effects.

This was a draft issued by HSBC London on themselves as payment of dividends on HSBC plc shares. Is it that HSBC Malta do not trust HSBC UK?

I could not believe it and was sure that this was an oversight at the processing stage. I wrote to the bank to try and clarify that it does not make sense in marking as uncleared effects a cheque drawn by and on HSBC UK. Surprisingly enough the reply came that this is bank policy.

Is there a chance that this draft is returned “refer to drawer”?

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