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cheque clearance

  • 05-03-2009 10:29am
    #1
    leon76
    Registered Users, Registered Users 2 Posts: 143 ✭✭


    Hi

    I recieved a cheque from a client y'day and I was wondering if you can ask the bank clerk before you lodge it if it will clear( if there is funds available in the client account) . I'm afraid it will bounce. I feel my client gave me the cheque just to buy time and get me of his back.

    regards

    Leon


Comments

  • #2
    homer911
    Registered Users, Registered Users 2 Posts: 5,150 ✭✭✭homer911


    A few years ago I was cashing a cheque from a neighbour and the bank clerk advised me to present the cheque again in two weeks time. He didnt mark it RD, just gave it back.


  • #3
    Dovers
    Closed Accounts Posts: 161 ✭✭Dovers


    If the cheque is drawn on the same bank as the one you hold your account you could always ask the teller. Data protectiion and customer confidentiality would dictate that the teller should not indicate under any circumstances whether the drawer of the cheque has funds to cover. However she may tell you out of good will (or you may be able to read a facial expression). If the drawer does not have funds to cover the cheque it will be unpaid on your account by the branch, likely next day.


  • #4
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,957 Admin ✭✭✭✭✭Toots


    The clerk may tell you. If they do though, they're breaking the law. Personally I would never indicate to anyone lodging a cheque whether or not I knew it would bounce, and I think most cashiers would be the same. They could get into a lot of trouble if it gets back to the drawer that they told a 3rd party their cheque might bounce.


  • #5
    1966
    Registered Users, Registered Users 2 Posts: 1,655 ✭✭✭1966


    easiest way to get definite answer on chq is to present it at the bank its drawn on and bring your lodgement book and ask that it be put through as credit transfer to your account - they'll have to make decision there and then as to whether it can go through etc.


  • #6
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    Toots85 wrote: »
    The clerk may tell you. If they do though, they're breaking the law. Personally I would never indicate to anyone lodging a cheque whether or not I knew it would bounce, and I think most cashiers would be the same. They could get into a lot of trouble if it gets back to the drawer that they told a 3rd party their cheque might bounce.

    Just to reiterate what Toots said, the clerk should not tell you anything. They don't know if funds will be recieved to the account during the clearing cycle. Nor do they know what implied limits maybe on the account either. Data protection rules also kick in as well. If the clerk tell you be it on their own head.


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  • #7
    IsThatSo?
    Closed Accounts Posts: 988 ✭✭✭IsThatSo?


    Ring your bank and give them the details. Ask them to clear the cheque for you and they will ring the account holding bank/branch and ask the question for you. If the cheque will be paid the response will be "cheque will be paid if presented now and in order". This doesn't guarantee payment, as the response applies at the moment in time the cheque is cleared, but it would give you some peace of mind. Its as good a reply as you will get.

    No Teller would (or should) tell you if there is enough funds to pay the cheque.


  • #8
    VB1962
    Closed Accounts Posts: 32 ✭VB1962


    Only options to give you certainty -

    Go to the Bank Branch that the cheque is drawn on and cash it - assuming crossings etc. permit or as 1966 says, have them lodge it by Credit transfer to your account.

    Ask your own bank to send the cheque for collection or special presentation to the Bank Branch it is drawn on and, if paid, they will receive a guaranteed payment - careful though because this may take a few days depending on post and also will incur charges.

    The teller cannot let you know/ is not dependable for the reasons already mentioned by Stepbar.

    Afraid Banks don't clear cheques by phone anymore and as also mentioned, t doesn't guarantee payment.

    Hope this helps.


  • #9
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,957 Admin ✭✭✭✭✭Toots


    VB1962 wrote: »
    Ask your own bank to send the cheque for collection or special presentation to the Bank Branch it is drawn on and, if paid, they will receive a guaranteed payment - careful though because this may take a few days depending on post and also will incur charges.

    This would also be a good option too. AFAIK some banks have a threshold for the amount of cheques they send for special collection ie: if it's only for a couple of hundred they might not do it. Also, if it's around this size, the charges incurred may make this option uneconomical.


  • #10
    leon76
    Registered Users, Registered Users 2 Posts: 143 ✭✭leon76


    I went to the bank y'day with my lodgement book and cheque. I went to the bank clerk and I asked him is there funds in the bank account to meet the cheque while showing him my lodgement book. He looked at his screen, hesitated and requested assistance from a senior member of staff. This member of staff after careful deliration with the bank clerk responded to me ‘sir, the account has been closed since 2005'. At that I requested the cheque back and left. :mad::mad:


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