Paycheck lodgment !HELP!

sameman

Hi! I Started a new job a two weeks ago,. Now I got my very first paycheck. I went to bank (Bank of Ireland) and used paycheck ATM. Which reads a paycheck and transfers money to my account ( BOI ). It was a five days ago, but theres still no money on my account. It shows future withdraw with correct amount of money, but only five yoyos available balance. I called bank yesterday and I've been told that the money will be transfered and available in two to four working days.! but its five days already. And they probably wont gonna transfer the money during the weekend. So I have to wait till Monday? Why does it takes so long to transfer the money? Deeply disapointed

dublin daz

What do you mean paycheck atm? It should be sent from your employers account and credited to yours.

Its not Bank of Irelands fault if they paid the funds in late.

Unless paycheck is an account at BoI then transfers are in the hands of the employer, not BoI.

Toots

OP are you talking about one of those new express lodgement machines? When you lodge a cheque into your BOI account, if your employer banks with another bank it will take 5 WORKING days for the cheque to clear. Whoever you were speaking to in relation to this gave you the incorrect information. Some accounts will allow you to draw against cheques straight away, but your account doesn't seem to be set up this way. If you used the machine on Tuesday then you won't have access to the funds until this coming tuesday.

To avoid this problem in future, ask your employer to pay you electronically and you will have access to your funds on the same day.

sameman

Toots* wrote: »

OP are you talking about one of those new express lodgement machines? When you lodge a cheque into your BOI account, if your employer banks with another bank it will take 5 WORKING days for the cheque to clear. Whoever you were speaking to in relation to this gave you the incorrect information. Some accounts will allow you to draw against cheques straight away, but your account doesn't seem to be set up this way. If you used the machine on Tuesday then you won't have access to the funds until this coming tuesday.

To avoid this problem in future, ask your employer to pay you electronically and you will have access to your funds on the same day.

Toots! Thanks a lot!
Yes im talking about new lodgment machines. Why only this tuesday? Shouldnt it be this monday? Or monday is bank holiday?

Toots

It's 5 working days from the day you lodged it, so you lodged it on Tuesday so that's day 1, wednesday is day 2 etc so monday will be day 5 meaning that it will be available from midnight monday/very early tuesday morning.