Ferrari06
As a former bank manager, who also worked for the clearing system, and as editor of , I think that I can definitively answer this one.
1...You cannot lodge cheques which are payable to the company to your personal account in any circumstances.
2...There is no actual difference between the clearing arrangement for your personal and business account. It just appears that way. If the cheque is drawn on a branch of the bank in which you hold your account, then the cheque will normally be presented to the payers account on the same day which you lodged it. The payers bank must respond by close of business on the next business day, if they are bouncing it. That response should take 1 day to reach your bank, and one further day before it gets to you. If the cheque is drawn on another bank, then the whole procedure may take up to 2 days longer.
3...The two accounts appear different because it is likely that your bank has set up your personal account to give you access to funds when a cheque is presented, but your business account is set up to give you access when cleared. Either way, if the cheque bounces, the bank will charge the bounced cheque to your account (plus a fee)
4...If you present the cheque at the payers branch, with a credit transfer, and they accept it, then the cheque can normally be considered as paid. The payers branch is under no obligation to accept it in this way, however