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Five-day clearing confuses customers

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Customers expressed frustration yesterday about cuts in banks' over-the-counter services on the first Saturday since the introduction of five-day clearing.

Many were confused by the new arrangement, under which some bank branches close and others have extended their opening hours but without offering clearing services.

The city's banks agreed to unify their handling of cheques after the introduction of five-day clearing by freezing the processing of cheques - including those issued by themselves - on non-clearing days.

A group of Democratic Party district councillors went to the Kwai Fong branch of HSBC to protest at the bank's decision to open only 50 branches on Saturdays instead of 114, as it initially planned.

Their spokesman, Chan Yuen-sum, said the closure of some of the branches meant people had to travel to neighbouring districts for over-the-counter services.

'For example, in Lei Muk Shue estate many elderly people and residents will have to take buses and minibuses to get here, and to do that they will have to wait at least 30 minutes,' he said.

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