What happens to the payer’s account during the cheque clearing process?

During the cheque clearing process, the amount of the cheque is debited from the payer's account. This means that once the cheque is presented for payment, the bank will withdraw the specified amount from the payer's account to settle the transaction. This action effectively reduces the balance in the payer's account by the amount of the cheque.

The cheque clearing process involves verifying that the payer has sufficient funds available in their account to cover the cheque amount. If the funds are available, the bank processes the transaction by debiting the payer’s account and transferring the funds to the payee's bank. It is essential for the payer to have sufficient funds; otherwise, the cheque may bounce, which can incur additional fees and is generally not a favorable outcome for the payer.

The other options do not accurately reflect the mechanics of the cheque clearing process. The amount does not get credited back to the payer’s account or remain unchanged; additionally, while some banks may charge a processing fee under certain circumstances, this is not a standard practice during cheque clearing itself.