Foreign cheque clearing

micosoft

irish bank sent bank draft to spanish bank for clearance 8 weeks ago and so far i have no reply and no money , irish bank say it could take months

mlumley

PTSB take 4 weeks for uk cheques.
They usualy hold on to it to rob you of interest/ or not clearing.

BuffyBot

Please don't raise 4 year old threads. I've split this off

This is has been covered time and time again. Much as the popular misconception might be the above, the simple fact is foreign cheque fraud is rife. Clearing them does take time, and more so in the last few years as this kind of fraud has been on the rise.

Nervous Wreck

mlumley wrote: »

PTSB take 4 weeks for uk cheques.
They usualy hold on to it to rob you of interest/ or not clearing.

Lodged cheques become available for interest long before they clear with PTSB. The clearing process can actually take months, as OP stated. Banks clear the funds into your account after 20 working days (for sterling) as a compromise. I've heard of foreign cheques taking 3 months to actually clear.

Toots

Did they send the cheque on collection for you? In my experience the spanish banks are unbelievably slow in returning funds from cheque collections, I've seen them take up to 4 months to come through. And don't be shocked if they take a good whack of commission on it aswell.

micosoft

micosoft wrote: »

irish bank sent bank draft to spanish bank for clearance 8 weeks ago and so far i have no reply and no money , irish bank say it could take months

waiting 3 months for cheque to clear in spanish bank sent from Irish bank.