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Cashing a Cheque - Is this for real??????????

  • 23-07-2009 03:27PM
    #1
    Kanedmick
    Registered Users, Registered Users 2 Posts: 101 ✭✭


    Quick Query.

    Went to cash a BOI cheque in a BOI branch as you might do. They refused to cash the cheque and said it had to be lodged to an account.

    The reason being was that the cheque had the name of the branch where it is from originally actually printed on it.

    I was told that in order to get cash, I would have to travel half way across the country to that branch???????????

    Is this for real?

    Is there any way this can be cashed without having to travel back to original branch?


Comments

  • #2
    helimachoptor
    Moderators, Science, Health & Environment Moderators Posts: 21,891 Mod ✭✭✭✭helimachoptor


    Yep, the branch will only cash a cheque if it was issue by that branch.


  • #3
    drunkmonkey
    Registered Users, Registered Users 2 Posts: 28,501 ✭✭✭✭drunkmonkey


    You used to be able to lodge it into your post office account and then withdraw the cash, not sure if that still works.

    You either have to go to the issuing bank or wait for the cheque to clear in your own account. It's normal.


  • #4
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators, Paid Member Posts: 17,005 Admin ✭✭✭✭✭Toots


    Depending on your account, you may be able to draw the cheque before it clears in your account.

    Each branch can only cash it's own cheques, for security reasons. They have to check the signature on the cheque is genuine, this is because cheque fraud is rampant and they have to protect the customer.

    There is no way the cheque can be cashed without it being done at the account holding branch. Unless another branch has special authorisation to cash another branch cheques for a specific account, usually a business. Is it a personal or business cheque?


  • #5
    100gSoma
    Registered Users, Registered Users 2 Posts: 1,288 ✭✭✭100gSoma


    been there done that. 5 days it took me to cash a cheque once as they had to send it off down the country to the issuing bank... Halifax (who I am with now) always cash my cheques and credit my account immediately. They reserve the right to take the money back if the cheque bounces of course, but at least its instant access to the money.


  • #6
    Kanedmick
    Registered Users, Registered Users 2 Posts: 101 ✭✭Kanedmick


    Thanks guys! That's a bummer.....


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  • #7
    AntiRip
    Closed Accounts Posts: 2,244 ✭✭✭AntiRip


    I'm actually able to cash cheques in a pub and a shop. But I live in a small village where everyone knows me so it's handy :)


  • #8
    MagicMarker
    Banned (with Prison Access) Posts: 32,865 ✭✭✭✭MagicMarker


    Why not lodge it? It will show up in your account within no time, at which point you can use an ATM?


  • #9
    veryangryman
    Registered Users, Registered Users 2 Posts: 5,816 ✭✭✭veryangryman


    MagicMarker wrote: »
    Why not lodge it? It will show up in your account within no time, at which point you can use an ATM?

    Using cheques is moronic. Those who use them would be too moronic to do that


  • #10
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators, Paid Member Posts: 17,005 Admin ✭✭✭✭✭Toots


    veryangryman wrote: »
    Using cheques is moronic. Those who use them would be too moronic to do that

    veryangryman, please read the charter in relation to posts which insult other users. In particular, this bit:
    People often do not agree as a group with regards to a lot of things. This is fine, if you want to disagree with someone and argue the opposite side in an intelligent and coherent manner, then go right ahead


  • #11
    babaloushka
    Closed Accounts Posts: 490 ✭✭babaloushka


    drunkmonkey wrote: »
    You used to be able to lodge it into your post office account and then withdraw the cash, not sure if that still works.

    I lodged a cheque to my post office account recently and was told 12 days is now the clearance time :eek: It seems to me that the more modern things get, the more retrograde the service :mad:


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  • #12
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators, Paid Member Posts: 17,005 Admin ✭✭✭✭✭Toots


    Post office takes longer to clear, because they're not actually a bank in their own right.

    See my old post here for more info on the cheque clearing time frame. Some building societies, credit unions, and post office take longer to clear cheques. The longest I'd heard previously was 7 days. 12 is a bit much alright.


  • #13
    Larianne
    Registered Users, Registered Users 2 Posts: 35,954 ✭✭✭✭Larianne


    Toots* wrote: »
    Each branch can only cash it's own cheques, for security reasons. They have to check the signature on the cheque is genuine, this is because cheque fraud is rampant and they have to protect the customer.

    There is no way the cheque can be cashed without it being done at the account holding branch. Unless another branch has special authorisation to cash another branch cheques for a specific account, usually a business. Is it a personal or business cheque?

    What about a cheque from the tax office? Can I cash that in any Bank of Ireland branch?


  • #14
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators, Paid Member Posts: 17,005 Admin ✭✭✭✭✭Toots


    Revenue cheques are crossed so they have to be lodged into an account unfortunately.


  • #15
    Larianne
    Registered Users, Registered Users 2 Posts: 35,954 ✭✭✭✭Larianne


    Toots* wrote: »
    Revenue cheques are crossed so they have to be lodged into an account unfortunately.

    ah balls!

    Thanks.


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