foreign cheque clearance

meathenterpr

Brother and I received a foreign cheque each over 4 weeks ago.  He had access to the funds however I am still waiting on the cheque to appear in my account.  Can you advise on the delay.  I can give the cheque number and the US bank in a PM if it would help.

Bank of Ireland: Darren

meathenterpr wrote: »

Brother and I received a foreign cheque each over 4 weeks ago.  He had access to the funds however I am still waiting on the cheque to appear in my account.  Can you advise on the delay.  I can give the cheque number and the US bank in a PM if it would help.

Hi meathenterpr,

Thanks for getting in touch with us through Boards.

It can take up to six weeks for any US Dollar cheque to be cleared for use in a bank within Ireland.This time frame is in place as we need to wait for confirmation from the American bank that the cheque is valid and the funds are available. As soon as we receive this confirmation from the American bank the funds will then be credited to your account.

Thanks again,
Darren.

meathenterpr

So now its 6 weeks.  bloody hell imagine if the banking system became moderised.
It still does not explain why my brother could access the the cheque and I cannot
Whats even more annoying is that I have my bank account with BOI longer than he has.

rushfan

meathenterpr wrote:

So now its 6 weeks. bloody hell imagine if the banking system became moderised. It still does not explain why my brother could access the the cheque and I cannot Whats even more annoying is that I have my bank account with BOI longer than he has.

And how much will it cost to clear said cheque? I have a similar situation where I'm lodging a cheque from the states drawn on Bank of America who are charging me a whopping $100 just for the privilege. And you wonder why banks are despised. Barstewards!!

Bank of Ireland: Darren

meathenterpr wrote: »

So now its 6 weeks.  bloody hell imagine if the banking system became moderised.
It still does not explain why my brother could access the the cheque and I cannot
Whats even more annoying is that I have my bank account with BOI longer than he has.

Thanks for getting back to me meathenterpr. The time frame would depend on when we get confirmation of the cheque back from the US bank. We will credit your account as soon as we receive confirmation from the US bank. We may have received the confirmation back in relation to your brothers cheque sooner then yours and this maybe why the funds had cleared in his account before it has in yours.

Thanks again,
Darren.

meathenterpr

It was credited to his account on the day it was lodged.

Bank of Ireland: Darren

rushfan wrote: »

Originally posted by meathenterpr
So now its 6 weeks. bloody hell imagine if the banking system became moderised. It still does not explain why my brother could access the the cheque and I cannot Whats even more annoying is that I have my bank account with BOI longer than he has.

And how much will it cost to clear said cheque? I have a similar situation where I'm lodging a cheque from the states drawn on Bank of America who are charging me a whopping $100 just for the privilege. And you wonder why banks are despised. Barstewards!!

Hi rushfan,

Thanks for getting on to me here.

It can depend on the amount of the cheque. If a foreign currency cheque for the amount of €875 there would be a charge of 2.25% of the cheque amount with a minimum charge of €1.25. If the amount is between €875 and €3000 it would be a charge of 1% of the amount and finally if the amount is between €3000 and €12500 the charge would be 0.5% of the transaction amount.

I hope this is some help.
Thanks again,
Darren.

rushfan

Actually I just happened across this thread so I have no issue with BOI. I'm dealing with PTSB, but it's Bank of America who are charging me $100 approx, inexplicably.