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Bounced cheque fee???

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  • 08-02-2012 10:07pm
    #1
    Masi
    Registered Users Posts: 24 ✭


    Hi there.

    Could someone please tell me what the charge is for a bounced cheque??

    A customer of mine gave me a e150 cheque, I lodged it last week and it has now been sent back to me.... As far as I am aware, I am charged a fee, correct?? How much is this? Is it a flat fee or a percentage??

    Many thanks in advance,

    Masi


Comments

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    #2
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    What bank are you with?


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    #3
    Masi
    Registered Users Posts: 24 ✭Masi


    unclebill98 wrote: »
    What bank are you with?

    I am with Bank of Ireland (business) and the cheque was from a BoI account too


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    #4
    leeroybrown
    Closed Accounts Posts: 7,563 ✭✭✭leeroybrown


    Expect it to be somewhere between €3 and €5 per cheque. This must be one of the most insidious fees the banks charge and if you need to lodge another cheque from the same person next week they'll lodge it, watch it bounce and charge you again.


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    #5
    pjmn
    Registered Users Posts: 1,059 ✭✭✭pjmn


    E3.30

    http://www.bankofireland.com/fs/doc/wysiwyg/FeesandCharges_BusinessSchedule_2012.pdf

    On Page 6


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    #6
    Masi
    Registered Users Posts: 24 ✭Masi


    leeroybrown wrote: »
    Expect it to be somewhere between €3 and €5 per cheque. This must be one of the most insidious fees the banks charge and if you need to lodge another cheque from the same person next week they'll lodge it, watch it bounce and charge you again.

    Thanks for that. True, crazy fee since I have done nothing wrong!!!


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    #7
    Masi
    Registered Users Posts: 24 ✭Masi


    pjmn wrote: »
    E3.30

    http://www.bankofireland.com/fs/doc/wysiwyg/FeesandCharges_BusinessSchedule_2012.pdf

    On Page 6

    Many thanks


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    #8
    leeroybrown
    Closed Accounts Posts: 7,563 ✭✭✭leeroybrown


    If you have a problem with a particular customer's cheques and they aren't a/c payee only then you have the option of going to their branch and request a cash payment. The branch can only say no and not charge you a fee.


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    #9
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,008 Mod ✭✭✭✭Jim2007


    Masi wrote: »
    Thanks for that. True, crazy fee since I have done nothing wrong!!!

    I do not see what this has to do with right and wrong... You choose to accept the cheque and you choose to give it to the bank for collection, if you do not want to pay the fee then either stop accepting cheques or present them for payment yourself!


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    #10
    Masi
    Registered Users Posts: 24 ✭Masi


    Jim2007 wrote: »
    I do not see what this has to do with right and wrong... You choose to accept the cheque and you choose to give it to the bank for collection, if you do not want to pay the fee then either stop accepting cheques or present them for payment yourself!

    Thanks for your helpful comment.

    I accepted the cheque on the understanding that the person had money in his account. If he did not have money in his account then this is his fault and he should be charged, not me as it was him who issued the cheque with that knowledge....


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    #11
    Jim2007
    Moderators, Business & Finance Moderators Posts: 10,008 Mod ✭✭✭✭Jim2007


    Masi wrote: »
    Thanks for your helpful comment.

    I accepted the cheque on the understanding that the person had money in his account. If he did not have money in his account then this is his fault and he should be charged, not me as it was him who issued the cheque with that knowledge....

    Then you should follow it up with him and see if he will reimburse you for the loss. But expecting your bank to carry the cost of a failed transaction between the two of you is unreasonable - they acted on your behalf not his.


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    #12
    Masi
    Registered Users Posts: 24 ✭Masi


    Jim2007 wrote: »
    Then you should follow it up with him and see if he will reimburse you for the loss. But expecting your bank to carry the cost of a failed transaction between the two of you is unreasonable - they acted on your behalf not his.

    There's nothing more petty than someone looking for an extra few euro because a cheque bounced.
    I never said that the bank should carry the cost, the person who issued the cheque should in the same way as someone who allows their account to go into overdraft pays a fee.


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