Why does it take a week to clear a cheque?

I've just received a cheque it won't clear for about a week. Why does it take a week to clear a cheque where in Europe it takes just a matter of hours? I know that the banks keep it a couple of days to earn interest, and shops have stopped customers writing cheques but businesses still issue cheques. Surely if customers in shops can't pay by cheque why can businesses? It's 2008 it should only take a couple of hours not a week.

Only in the UK!! In australia generally its 3 days......and 3 days for a bank transfer not the usual week here in the UK!! Terrible banking system, you think that they would be more up with technology!!

Usually the funds are available to you after 2-3 working days, banks recommend you don't use them for about 5 days in case the cheque is bounced by the issuer's bank. If that happens, the funds will be debited from your account, and if you don't have enough in there to cover it, that will result in charges for you.
It can actually be bounced after the 5 days have elapsed, but normally if it's going to happen it will happen in that period.

I imagine that can happen elsewhere in Europe as well, they just choose to credit your account sooner, here the funds don't get credited until the cheques have been physically moved around the country and exchanged between banks.

Most banks will pay out on a deposited cheque fairly quickly. Some will pay out on the day. It can depend on the amount the cheque is for,and how much you have in your account.

Cheques deposited into saving accounts always take longer to clear than current account.

Complain to your bank.

because a lot of people write bad checks and it takes the bank a week to insure funds are there and then removed

Because banks are greedy and like to hold on to the money

if u pay for a business acount with some banks they clear within 1day