Its been a long time since I worked at a bank, but bank cheques (and IRD cheques) used to be deposited as cleared funds. It was nigh on impossible to cancel a bank cheque except in extreme and rare circumstances, and even then only if it hadn't been presented.
Perhaps its the change in anti money laundering laws that have necessitated the need to force clearance times on all cheques, but 5 days does seem a long time.
Yes 5 days is a long time specially considering it's from the same bank and to the same bank's account. 7 Days if you include weekend.
We get instant transfers between Australia and NZ going and we go backwards (or ignore?) towards something legacy that's about to die out.
It was completely my "fault" in assuming this would be cleared funds and I am facing my own ignorance now :(