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Deposit cheque might not clear...

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  • 24-06-2008 10:53pm
    #1
    baguio
    Closed Accounts Posts: 199 ✭✭


    Got a deposit in the form of a cheque the other day - innocent enough at the time. However, theres a possibility individual may be making other plans - which actually would be no problem with me - but they may be going the wrong way about it. ie. stopping cheque and buggering off (i hadnt got around to taking rent off them).
    If cheque was lodged monday, whilst I know the process may take 3 days for clearing - can the bank let me know if a stop has been put on the cheque on the spot if i ring them up??

    Why can't people be straight up? Have to say, of all tenants in last few years, the non irish ones have been by far and away the best...


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    #2
    confuzed
    Registered Users Posts: 302 ✭✭confuzed


    baguio wrote: »
    can the bank let me know if a stop has been put on the cheque on the spot if i ring them up??

    Why can't people be straight up?
    Happened to me once when my last employer fecked up. He wrote me a cheque and i heard at work place that he has no money left in account. I called AIB and they refused to find out truth behind cheque. Their simple explanation why would someone do it deliberately when they know they are damaging their credibility with bank.
    Only after 10 days I received bounced unpaid cheque in post:mad:


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    #3
    baguio
    Closed Accounts Posts: 199 ✭✭baguio


    confuzed wrote: »
    Their simple explanation why would someone do it deliberately when they know they are damaging their credibility with bank.
    :pac:

    Well, learn something new every day. Just rang the bank - and they tell me that even though the funds are available ie. the cheque has cleared - it could still be 'returned' if there are not enough funds to meet it. So in effect, theres a full weeks wait until transfer is 100% complete.
    Surely that is what they cheque for during the three days ie. if a 'stop' has been put on it and if funds are there to meet it?


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    #4
    snellers
    Closed Accounts Posts: 465 ✭✭snellers


    bottom line is the bank won;t foot the cost of any cancellation - they would rather charge us if we take funds even if it says available....I don't agree with it - if your account shows available funds then that should be the end of it....


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    #5
    Agent J
    Registered Users Posts: 1,909 ✭✭✭Agent J


    Sorry guys had to be the bearer of bad news but checks can be rejected up to ten days after lodgement by the bank.

    Anything less is the bank allowing you access to "uncleared funds". You might be able to see it in your account but its actually not cleared. The reason they do this is dependant on the account of the holders and how many days it is and what type of cheque etc..

    You can complain all you want to the bank but ultimately if they have done all they are supposed to(ie timely dealt with the cheque ) then its not their problem.

    The Cheque is effecitvely guarenteed by the person writing it not the bank. The law covers the bank and gives a spefic time frame to declare it unpaid.


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