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Cheque Clearing

  • 01-05-2015 10:24am
    #1
    RacoonQueen
    Moderators, Sports Moderators Posts: 20,366 Mod ✭✭✭✭


    I lodged a cheque on Monday that still is not clear. Why is it taking this long? There should be no issue with funds from the account it was coming from?

    Everyone I've asked has said a cheque would clear into their account by now, why does BOI take longer?


Comments

  • #2
    Bank of Ireland: Elaine
    Closed Accounts Posts: 1,367 ✭✭✭Bank of Ireland: Elaine


    Hi RacoonQueen, 

    Thank you for getting in contact with us here on Boards.ie. 

    When you lodge a cheque to your account, you will see the amount added to your balance however, the cheque will need to be sent for clearance before you have access to the funds. Depending on the bank where the cheque was drawn from the clearance time frame will differ. A domestic cheque can take 3 to 5 working days to clear, while a foreign cheque can take 4 to 6 weeks to clear onto your account. 

    As today is a European Bank Holiday, this may also impact funds due to be processed onto your account today. As such, it may be Tuesday or Wednesday before the funds are available. You can find more information on May Day here on our website.  You can also find more information on cheque clearance times here.   

    We hope this helps and if we can assist with anything else, please don't hesitate to contact us again. 

    Thanks, 
    Elaine 


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