Bounced cheque fee???

Masi · 08-02-2012 10:07PM #1

Hi there.

Could someone please tell me what the charge is for a bounced cheque??

A customer of mine gave me a e150 cheque, I lodged it last week and it has now been sent back to me.... As far as I am aware, I am charged a fee, correct?? How much is this? Is it a flat fee or a percentage??

Many thanks in advance,

Masi

unclebill98 · 08-02-2012 10:10PM

What bank are you with?

Masi · 08-02-2012 10:12PM

unclebill98 wrote: »

What bank are you with?

I am with Bank of Ireland (business) and the cheque was from a BoI account too

leeroybrown · 08-02-2012 10:18PM

Expect it to be somewhere between €3 and €5 per cheque. This must be one of the most insidious fees the banks charge and if you need to lodge another cheque from the same person next week they'll lodge it, watch it bounce and charge you again.

pjmn · 08-02-2012 10:19PM

E3.30

http://www.bankofireland.com/fs/doc/wysiwyg/FeesandCharges_BusinessSchedule_2012.pdf

On Page 6

Masi · 08-02-2012 10:23PM

leeroybrown wrote: »

Expect it to be somewhere between €3 and €5 per cheque. This must be one of the most insidious fees the banks charge and if you need to lodge another cheque from the same person next week they'll lodge it, watch it bounce and charge you again.

Thanks for that. True, crazy fee since I have done nothing wrong!!!

Masi · 08-02-2012 10:23PM

pjmn wrote: »

E3.30

http://www.bankofireland.com/fs/doc/wysiwyg/FeesandCharges_BusinessSchedule_2012.pdf

On Page 6

Many thanks

leeroybrown · 08-02-2012 10:23PM

If you have a problem with a particular customer's cheques and they aren't a/c payee only then you have the option of going to their branch and request a cash payment. The branch can only say no and not charge you a fee.

Jim2007 · 09-02-2012 12:35AM

Masi wrote: »

Thanks for that. True, crazy fee since I have done nothing wrong!!!

I do not see what this has to do with right and wrong... You choose to accept the cheque and you choose to give it to the bank for collection, if you do not want to pay the fee then either stop accepting cheques or present them for payment yourself!

Masi · 13-02-2012 01:21AM

Jim2007 wrote: »

I do not see what this has to do with right and wrong... You choose to accept the cheque and you choose to give it to the bank for collection, if you do not want to pay the fee then either stop accepting cheques or present them for payment yourself!

Thanks for your helpful comment.

I accepted the cheque on the understanding that the person had money in his account. If he did not have money in his account then this is his fault and he should be charged, not me as it was him who issued the cheque with that knowledge....

Jim2007 · 13-02-2012 01:33AM

Masi wrote: »

Thanks for your helpful comment.

I accepted the cheque on the understanding that the person had money in his account. If he did not have money in his account then this is his fault and he should be charged, not me as it was him who issued the cheque with that knowledge....

Then you should follow it up with him and see if he will reimburse you for the loss. But expecting your bank to carry the cost of a failed transaction between the two of you is unreasonable - they acted on your behalf not his.

Masi · 13-02-2012 01:42AM

Jim2007 wrote: »

Then you should follow it up with him and see if he will reimburse you for the loss. But expecting your bank to carry the cost of a failed transaction between the two of you is unreasonable - they acted on your behalf not his.

There's nothing more petty than someone looking for an extra few euro because a cheque bounced.
I never said that the bank should carry the cost, the person who issued the cheque should in the same way as someone who allows their account to go into overdraft pays a fee.

Bounced cheque fee???

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