Just wondering - if i cash a cheque in a pub -say saturday - they lodge it in their bank on Monday.
When will it clear (presuming they are not the same bank as me)???
3-5 working days!! Might be quicker for a business tho!!
A cheque lodged in a bank generally takes 5 working days to be cleared and credited to the account it was lodged into.
I think it's 5 working days. But it can be longer if the pub doesn't bring the cheque to the bank straight away. They may do it at the end of the month for example.
If the pub cashes or lodges the cheque in the same bank branch as the account the cheque is drawn from then it could clear immediately. At some banks (Permanent TSB for example), they may credit the payee's account immediately on lodgement while waiting for the cheque to clear (meaning the funds don't leave the payer's account immediately).
Generally it takes 3 to 5 working days for cheques to clear and for the funds to leave the payers account.
Generally, also, it's not a good idea to write a cheque when the funds to cover the value of it aren't yet in your account!
from what i have experienced, it can take 5-7 working days
So if its lodged by the bank on Monday and it takes say three days it'd clear on Thursday? or wednesday?
if i lodged a cheque on tuesday just gone when should it be available funds in my account it was a bank of ireland cheque lodged in an aib account
FFS, what Pub still takes cheques????