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An Post - 10-12 WORKING Days for a cheque to clear ?

  • 24-05-2016 9:09am
    #1
    vicwatson
    Registered Users, Registered Users 2 Posts: 28,404 ✭✭✭✭


    Lodged an Ulster bank cheque to An Post savings account yesterday and girl told me it'll take 10-12 WORKING days to clear.

    In this day and age with SEPA and all the rest how the heck....10-12 working days

    What's the process here after I hand the cheque over to the post office worker ????


Comments

  • #2
    JTMan
    Registered Users, Registered Users 2 Posts: 5,557 ✭✭✭JTMan


    SEPA deadlines apply to electronic transfers only. There is no equivalent for cheques.

    An Post (who are not a bank) need to send the cheque to a bank and then get the proceeds cleared which typically takes 5 business days.

    10-12 seems excessive, An Post might just be covering themselves.


  • #3
    Nervous Wreck
    Closed Accounts Posts: 16,115 ✭✭✭✭Nervous Wreck


    A better question would be "In this day and age with SEPA," why is anyone issuing any payments via cheque?


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