dlambirl Registered User
#1

Does anyone here know how long it takes a revenue cheque to clear? Should it not take as long cos its state guarenteed or will it take the usual 5 days?

spadder Registered User
#2

I'd say if you got a cheque from the bank themselves they would still take their five working days

dlambirl Registered User
#3

LOL

BendiBus Registered User
#4

spadder said:
I'd say if you got a cheque from the bank themselves they would still take their five working days


Would you accept a cheque from an Irish bank at the moment?

dlambirl Registered User
#5

Thats true

Well i went into the bank there and they said (surprise surprise) that it'd take 5 working days. Bloody hell

stepbar Registered User
#6

BendiBus said:
Would you accept a cheque from an Irish bank at the moment?


Go on tell me, I'd love to hear why....

kaiser sauze Registered User
#7

stepbar said:
Go on tell me, I'd love to hear why....


I'm sure the statement is ironic, however, in the current climate, it's valid.

Why are you so sensitive?

unclebill98 Registered User
#8

All chq's drawn on Irish Banks take 6/7 days to fully clear. Regardless of who issued them.

Mr Clonfadda Registered User
#9

It generally depends as much on your bank as the bank the cheque is written. I know cheques between AIB Customers are cleared quicker than 6-7 days

unclebill98 Registered User
#10

There is a turn around on chqs. People forget that the postal system has as much to do with clearing time than the banks internal system.... 6/7 is the max. If your db outside of this time frame you are more than in your rights to demand the funds bank and your bank should and will take the hit.

stepbar Registered User
#11

kaiser sauze said:
I'm sure the statement is ironic, however, in the current climate, it's valid.

Why are you so sensitive?


Because if there's anything I don't like is flippant comments that add nothing to the thread at all. In the "current environment" the comment from Bendibus is not valid and as such should be threated as A) a dig at the banks and B) with a pinch of salt (a small one at that).

dotsman Registered User
#12

It doesn't matter who the cheque is from. It still has to go through the clearing process (to make sure that the details are correct and that it is not a fraud). Also, who would determine what's secure and what's not?

Cheques are antiqated methods of payments that require a lot of manual processes, and postage (between banks). An AIB to AIB cheques clears faster as AIB do their own clearing, therefore does not need to go through the process twice (ie an AIB to BOI would have to go through AIB's process, and then BOI's process).

In today's climate, a cheque drawn on an account within one of the Irish banks is fully guaranteed to be paid (unless of course, the customer who wrote the cheque doesn't actually have the funds!). Anyone who questions or suggests otherwise really shows how little they know of the current financial crisis, and as a result, their opinion on any form of future plans to resolve the crisis should be completely ignored.

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Bottle_of_Smoke Registered User
#13

dotsman said:
It doesn't matter who the cheque is from. It still has to go through the clearing process (to make sure that the details are correct and that it is not a fraud). Also, who would determine what's secure and what's not?

Cheques are antiqated methods of payments that require a lot of manual processes, and postage (between banks). An AIB to AIB cheques clears faster as AIB do their own clearing, therefore does not need to go through the process twice (ie an AIB to BOI would have to go through AIB's process, and then BOI's process).

In today's climate, a cheque drawn on an account within one of the Irish banks is fully guaranteed to be paid (unless of course, the customer who wrote the cheque doesn't actually have the funds!). Anyone who questions or suggests otherwise really shows how little they know of the current financial crisis, and as a result, their opinion on any form of future plans to resolve the crisis should be completely ignored.


Yes.

However, go into the bank and tell them its a govt cheque and unless your account op is appalling they'll more than likely let you draw against uncleared effects.

unclebill98 Registered User
#14

Bottle_of_Smoke said:
Yes.

However, go into the bank and tell them its a govt cheque and unless your account op is appalling they'll more than likely let you draw against uncleared effects.


Not really the case.

It does not matter who the chq is from. If its not cleared funds its not cleared funds. Yes there are certain customers who would get funds back but they account from 5% of account holders. Mainly those customers have high balances on savings or are of importance to the bank like a high valued customer.

OP you could ask, but there not entitled to give to you regardless.

IsThatSo? Registered User
#15

Bottle_of_Smoke said:
Yes.

However, go into the bank and tell them its a govt cheque and unless your account op is appalling they'll more than likely let you draw against uncleared effects.


If they allow you do this they will charge you interest for the honour!!! It will be in your quarterly interest charge, just as a lump sum though, not broken down into the different types of interest charged (mine is not anyway). When your interest is charged if you ring the bank they can give you a breakdown of how much was charged for what. Interest on uncleared funds is something that a lot of people are not familiar with and basically its a charge for using money that you don't really have, as if you were overdrawn.

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