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Processing time for USD cheque

  • 10-10-2018 10:22pm
    #1
    Humbird
    Registered Users, Registered Users 2 Posts: 24 ✭


    I lodged a USD cheque with Bank of Ireland on 16th August and I was given a leaflet by the bank when I lodged the cheque that it could take up to 4-6 weeks to process the cheque.  They also put this in writing in a Service Desk request on processing times.

    After six weeks, I contacted them looking for my money and Bank of Ireland then said the processing time could be up to eight weeks.
    Eight weeks have now passed and today I was told it could take up to TEN weeks.

    I would like to know how Bank of Ireland can justify giving customers bad information and keep changing the goal posts basically - I would never have lodged my USD cheque with Bank of Ireland had I known how my money would be handled.
    Is anybody else experiencing such difficulties in processing USD cheques? The cheque is from a highly reputable pension company.


Comments

  • #2
    Bank of Ireland: Lorna
    Closed Accounts Posts: 423 ✭✭Bank of Ireland: Lorna


    Hi Humbird,

    Thank you for getting in touch.

    We do appreciate that this can be frustrating. Our timeframes for foreign cheque clearance is normally 4-6 weeks but this can vary depending on the bank that issues the cheque. We're sorry that this wasn't made clear to you, we will take your feedback on board.

    We do need to wait for the issuing bank to confirm the cheque and clear it before we can process it.

    Please be assured that as soon as this is completed we will credit your account.

    Thanks,

    Lorna


  • #3
    Humbird
    Registered Users, Registered Users 2 Posts: 24 ✭Humbird


    Hello Lorna,
    Yesterday the eight week wait was updated to ten weeks, and then today when I went to the branch I was told by Bank of Ireland Manager that it could take up to FOURTEEN weeks to clear my cheque.

    This is horrendous service for a customer to be told a USD would clear in 4-6 weeks, then be told it could take 8 weeks, then to be told it could take TEN weeks, and then another update today to be told it could take FOURTEEN weeks.

    Why are all the bank officials saying different things to customers?  How ethical is it to tell a customer a cheque will clear in 4-6 weeks, and then take their cheque knowing that it may not clear for 14 weeks?

    A very irritated customer (who will soon no longer be a BoI Customer)


  • #4
    Bank of Ireland: Darren
    Closed Accounts Posts: 991 ✭✭✭Bank of Ireland: Darren


    Humbird wrote: »
    Hello Lorna,
    Yesterday the eight week wait was updated to ten weeks, and then today when I went to the branch I was told by Bank of Ireland Manager that it could take up to FOURTEEN weeks to clear my cheque.

    This is horrendous service for a customer to be told a USD would clear in 4-6 weeks, then be told it could take 8 weeks, then to be told it could take TEN weeks, and then another update today to be told it could take FOURTEEN weeks.

    Why are all the bank officials saying different things to customers?  How ethical is it to tell a customer a cheque will clear in 4-6 weeks, and then take their cheque knowing that it may not clear for 14 weeks?

    A very irritated customer (who will soon no longer be a BoI Customer)

    Thanks for getting back to us here. 
    Please be assured that the foreign currency cheque will be cleared in your account as soon as we receive confirmation of the clearance by the issuing bank. The time frames can change because we would have to wait for a response from the issuing bank. 
    Thanks again, 
    Darren. 


  • #5
    Humbird
    Registered Users, Registered Users 2 Posts: 24 ✭Humbird


    Bank of Ireland: Darren wrote: »
    Humbird wrote: »
    Hello Lorna,
    Yesterday the eight week wait was updated to ten weeks, and then today when I went to the branch I was told by Bank of Ireland Manager that it could take up to FOURTEEN weeks to clear my cheque.

    This is horrendous service for a customer to be told a USD would clear in 4-6 weeks, then be told it could take 8 weeks, then to be told it could take TEN weeks, and then another update today to be told it could take FOURTEEN weeks.

    Why are all the bank officials saying different things to customers?  How ethical is it to tell a customer a cheque will clear in 4-6 weeks, and then take their cheque knowing that it may not clear for 14 weeks?

    A very irritated customer (who will soon no longer be a BoI Customer)

    Thanks for getting back to us here. 
    Please be assured that the foreign currency cheque will be cleared in your account as soon as we receive confirmation of the clearance by the issuing bank. The time frames can change because we would have to wait for a response from the issuing bank. 
    Thanks again, 
    Darren. 
    Hello Darren, I think something is really wrong here. Bank of Ireland should not tell customers 4-6 weeks ..... and then keep extending it out to as time goes on until now I am being told fourteen weeks.  Something very wrong with such a practice of misleading customers.


  • #6
    Bank of Ireland: Darren
    Closed Accounts Posts: 991 ✭✭✭Bank of Ireland: Darren


    Humbird wrote: »
    Bank of Ireland: Darren wrote: »
    Humbird wrote: »
    Hello Lorna,
    Yesterday the eight week wait was updated to ten weeks, and then today when I went to the branch I was told by Bank of Ireland Manager that it could take up to FOURTEEN weeks to clear my cheque.

    This is horrendous service for a customer to be told a USD would clear in 4-6 weeks, then be told it could take 8 weeks, then to be told it could take TEN weeks, and then another update today to be told it could take FOURTEEN weeks.

    Why are all the bank officials saying different things to customers?  How ethical is it to tell a customer a cheque will clear in 4-6 weeks, and then take their cheque knowing that it may not clear for 14 weeks?

    A very irritated customer (who will soon no longer be a BoI Customer)

    Thanks for getting back to us here. 
    Please be assured that the foreign currency cheque will be cleared in your account as soon as we receive confirmation of the clearance by the issuing bank. The time frames can change because we would have to wait for a response from the issuing bank. 
    Thanks again, 
    Darren. 
    Hello Darren, I think something is really wrong here. Bank of Ireland should not tell customers 4-6 weeks ..... and then keep extending it out to as time goes on until now I am being told fourteen weeks.  Something very wrong with such a practice of misleading customers.

    Thanks for the message humbird.
    I'm sorry that you're unhappy with this. These time frames would be the general amount of time it would take for a foreign currency cheque or draft to clear. As we would be at the mercy of the issuing bank to respond to us we can't guarantee a specific time-frame for the cheque clearance.
    Please be assured that the cheque will clear in your account as soon as we do receive confirmation from the issuing bank.
    Thanks again,
    Darren.   


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