My sister is in debt

hexagramer

hey just a quick question
my sister's bank account is in depth of -250euro, due to a bounced cheque that she lodged into her a/c the other day

the thing is is that she moved abroad and asked me to check her mail for her, and i got this bounced cheque. she used to live with me untill she moved so im hoping that this wont get seriouse in any way?

250euro isnt that much at all i know countless people who owe thousands, so just to be on the safe side is this worth telling my sister that this happened or will i let this rest??

will it become a big issue??

Ruu_Old

Does she have access to the account from abroad? Just tell her about it, no big deal.

Jack B. Badd

I assume you mean debt. Why wouldn't you tell your sister? It's her account, surely she should know.

spurious

If she has any standing orders or direct debits set up they will not be able to go through. Depending who they are to that might cause problems and result in missed payments.

You should tell her as soon as possible, if only to let her know someone bounced a cheque on her.

fasterkitten

I don't understand. Do you mean that her account is overdrawn by 250 because a cheque she received and lodged bounced?

You should tell her, especially if there isn't a regular stream of funds going into that account. AFAIK an overdraft is no problem but most banks want your account to be in credit again within a certain amount of time.

Re: getting serious, I don't know what you mean. Are you afraid there'll be implications for you because you shared an address? That would only be relevant if she was the one writing bad cheques.

Miss Fluff

You should tell her so she can then ask whoever owes her the money to reissue the cheque. The bank will probably charge her an overdraft penalty but this is not a big issue.

FYI, it's a debt you are referring to by the way, not depth

hexagramer

debt, sorry.

i rang her just there she sais shell just ask her freind to giv her the cash instead in which she will cause i know her aswell and shes a lovley trustworth freind. shes switching banks anyway and has no direct debit' setup at all, i just dont want guards knocking here thats all,:pac:

she also said that she got a cheque from her freind, and lodged it, but to those of you that dont know that in bank of ireland once u lodge a cheque into an account you can go straight to ur atm and the money is in, altho the cheque hasnt been cleared.(must be something the managers dont know about this is how she ended up in dept to the cheque. it never cleared yet she took it out of the atm straight after she lodged it.

so she owes her account, the bank wont chase her no?

Pete4779

hexagramer wrote: »

but to those of you that dont know that in bank of ireland once u lodge a cheque into an account you can go straight to ur atm and the money is in, altho the cheque hasnt been cleared.(must be something the managers dont know about this is how she ended up in dept to the cheque. it never cleared yet she took it out of the atm straight after she lodged it.

This is generally because most cheques aren't bad and don't bounce. You are generally advised to not make withdrawals on a lodged cheque's funds until the standard clearing time (3 working days usually).

They won't "chase" her, they will just charge the overdraft interest rate as per the agreed overdraft limit (assuming there was an overdraft agreed). If there was no overdraft agreed then they will start charging fees to the account. If the charges and fees are not payed within a certain time they will then step up action.

Overheal

Is your sister that fragile that she shouldnt know that she's 250 euros overdrawn?!

hexagramer

Overheal wrote: »

Is your sister that fragile that she shouldnt know that she's 250 euros overdrawn?!

i already told her, next time READ the thread properly

Overheal

hexagramer wrote: »

i already told her, next time READ the thread properly

you caught me on a bad day my own sister is in the ****s. another day another life.

IRISH RAIL

OK i think i know where you are coming from if ou lodge a cheque thats bounced then its fraud but if the money goes in to clear it your fine, sounds complicated well it is.
what will happen is one of two things depending on how the cheque was cleared.

if the cheque was put into your sisters account and she was able to draw the fund immedietly before the cheque cleared she will have to pay the bank they wont come screaming at the door, what will happen is when the next amount of money goes in it willl be taken from that with a small charge for being overdrawn.

now worst case is no more money goes in to the account to cover the debt so a fraudulent withdrawal has taken place for 250 euros no onw will go to jail the bank will chase it and your sisters credit rating will be affected for 5 years.

what to do is make sure your sis gets the money by gauranteed cheque or electronic transfer to her account write off the 4 euro fee for being overdrawn and put it down to experiance about taking cheques from people.

dont lose sleep about it its not that big a deal

pwp

It does happen from time to time, and is seldom something to really worry about. As long as you can transfer funds in, and the cheque wasn't purposely written knowing the account, then everything should be fine.

owenmakken

Im gonna go out on a limb here and disagree with everyone else, I don't think you should tell her, 250 euro is a fair chunk of money and getting bad news abroad can be devastating - you never know what could send someone into a spiral of depression.

We didn't tell our brother that our father had died when he was in Australia for three months, sure he was devastated when he came back but at least we were in the position to get him conciling and family support.

So best wait till she gets back and you'll have that advantage too

Jack B. Badd

Debt is in no way comparable to a bereavement. In this case, the amount of debt is not so significant that it can't be resolved with a minimum of administrative hassle. The OP's sister has a right to know the details of her account so that she can resolve the matter (personally I think she'd have a right to know if her father died too but that's besides the point).

DetectivFoxtrot

owenmakken wrote: »

Im gonna go out on a limb here and disagree with everyone else, I don't think you should tell her, 250 euro is a fair chunk of money and getting bad news abroad can be devastating - you never know what could send someone into a spiral of depression.

We didn't tell our brother that our father had died when he was in Australia for three months, sure he was devastated when he came back but at least we were in the position to get him conciling and family support.

So best wait till she gets back and you'll have that advantage too

What??? Spiral into depression? Let's get a grip here. Being overdrawn €250 cannot compare to the death of a parent. Two very different pieces of news one could receive while abroad methinks.

All she has to do is get the person who wrote her the cheque to lodge the 250 into her bank account, and if any debit interest has accrued on her account as a result of being overdrawn (it would be minuscule) the friend should pay this also seeing as she couldn't honour the cheque.
Bank of Ireland - like other banks - will allow withdrawal of cash immediately if they know the drawer of the cheque and his/her credit record is good. Unfortunately though sometimes even the best customers can't honour a cheque and it is sent back to the recipient unpaid and funds withdrawn.
If your sister wants to ensure her account is always in order going forward she should wait the 5 day clearing cycle (drawer and drawee in different banks) or 3 day cycle (drawer and drawee in same bank) before withdrawing any money paid to her account via cheque - Day 1 of the cycle being the day she lodged the cheque to her account.

Dan Chipowski

What i wouldn't give to be only 250 overdrawn!!

hexagramer

its cool guys i have it sorted! she made a bank transfer thismorning :pac:

on another note, does anybody wanna give me e100000000.00euro just for the hell of it? :P ill bake ya cookies if ya do!

anyhoo just jokin cheers for the help