Getting funds into someone's account on same day by depositing money in person.

Emblematic

Quick question for you banking enthusiasts:

I will be receiving funds on a particular day and need to get them into someone's account that same day. If I go into the person's bank in person with the money and ask for it to be deposited in the account, will the money appear in that person's account that same day?

Thanks in advance!

Allinall

if it’s cash, then yes.

Emblematic

Thanks, Allinall. I will have a debit card with me loaded with the funds, so would I be correct in assuming that this will be equivalent to cash from the perspective of the bank? There should be no need to clear anything.

coylemj

OP, are you with the same bank as the recipient? You won't need to go into their actual branch, what matters is that you are with the same bank. In which case you can do it from your own or any other branch of that bank.

If you are with different banks, what I would do is withdraw the money as cash, then go into any branch of his bank, fill out a lodgement form, walk up to a cashier, make out that it's rent that's late and you need it to go through straight away. The cashier can do it there and then and it will be in their account.

https://www.boards.ie/discussion/comment/122073534#Comment_122073534

No, they will not take your card unless it is for the same bank. In which case you could just transfer inline, subject to your banks limits.

Emblematic

https://www.boards.ie/discussion/comment/122073968#Comment_122073968

Thanks @coylemj. It is a different bank. Thanks for the suggestion. I will withdraw the cash amount and ask to lodge it in their account straight away.

Out of interest, if I don't ask to have it go through straight away, is it the norm that it takes a couple of days?

Emblematic

https://www.boards.ie/discussion/comment/122073978#Comment_122073978

Thanks Tow.

The problem with transferring online (which I normally do) is that it next day or next business day.

I will try the cash suggestion by coylemj.

coylemj

https://www.boards.ie/discussion/comment/122073979#Comment_122073979

A cashier will typically drop the lodgement slip in a tray for a fellow bank official to take care of. It will almost certainly be processed the same day but asking the cashier nicely to put it through straight away will guarantee that the money is transferred there and then. Remember, you have to do this in a branch of the payee's bank.

Emblematic

https://www.boards.ie/discussion/comment/122074079#Comment_122074079

That answers my question perfectly. Many thanks.