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BOI Cheque Clearance (or con merchant banks?)

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  • 28-06-2003 8:09pm
    #1
    furlong
    Closed Accounts Posts: 37 ✭


    Drew a cheque on my building society account (their cheque signed by them) on Friday 20th June and paid it into my BOI account the same day. Drew a sizeable amount of cash against it over the counter on Friday 27th June they made a phone call to my branch to confirm but no problem. Today my wife tries to use her Laser card to pay for shopping and gets refused! I check on the ATM and it shows xxxx.xx balance but zero funds available to withdraw. Sister in law who works for them says that is the way it works!

    What is it with these people! How can they allow me to draw against a deposited cheque one day and refuse funds against the same account the following day? How can it take over a week for a cheque drawn on a buiding society to clear into a bank account?

    I don't know if it will upset them or not and I don't care I am taking the accounts for my three businesses and all personal banking elsewhere.

    Did the independant banking ombudsman ever get appointed? If not who else can I complain to?

    I am soooooooo angry!


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    #2
    skywalker_208
    Registered Users Posts: 1,350 ✭✭✭skywalker_208


    know how u feel! lodging cheques is a real pain in the arse! i mean come on - in the 21st century - it still takes a full week to clear a bloody cheaque!!!


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    #3
    furlong
    Closed Accounts Posts: 37 ✭furlong


    Yes it is crazy, plus the ATM charges are a joke, in the UK there was such an uproar the banks have now removed them.


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    #4
    pclancy
    Registered Users Posts: 3,940 ✭✭✭pclancy


    I lodge a cheque in my branch and it clears there and then and shows us on the account????????????


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    #5
    Our man in Havana
    Closed Accounts Posts: 29,476 ✭✭✭✭Our man in Havana


    Not true. It may show as part of your balance but its not cleared until a few days later. I.e. It may bounce and will take back the money.

    There is a disclaimer on bank lodgement slips.
    The 'Balance' quoted overleaf is provisional as at the time of issue and may be subject to adjustments necessary in the usual course.
    The 'Balance' quoted is subject to clearance of any uncleared cheques lodged recently.


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    #6
    yankinlk
    Registered Users Posts: 2,740 ✭✭✭yankinlk


    it actually takes 3 days to lodge a check into another boi branch...even one just a half mile up the road.


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    #7
    pclancy
    Registered Users Posts: 3,940 ✭✭✭pclancy


    i didnt actually know that. Must learn about money and things.


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    #8
    furlong
    Closed Accounts Posts: 37 ✭furlong


    I was told it was three days as well which is in my view totally unacceptable in this day and age. It is just another excuse for BOI to hold on to our money for longer and so boost their profits.

    Anyone know if it is the same in AIB ulsterbank etc?


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    #9
    skywalker_208
    Registered Users Posts: 1,350 ✭✭✭skywalker_208


    yea they are the same.... i lodged a cheque in AIB yesterday... still no sign of the dosh though.....


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    #10
    furlong
    Closed Accounts Posts: 37 ✭furlong


    The three days with BOI cheques paid at any branch apart from your own is in addition to the usual clearance time.

    Is that the same at AIB skywalker?

    I dont object too much about 3 or so days to clear a cheque but three days before they even start to clear it is a joke!


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