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Is there any way to get around annoying Bank wait?

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  • 11-12-2008 7:46pm
    #1
    Glacier
    Closed Accounts Posts: 647 ✭✭✭


    I have a crossed Ulster Bank cheque for €1,500. I don't have an Account with the Bank so it will take days to clear. Is there any way I could get access to the cash sooner? If I'm not working, is there any chance I could get a €200 temporary overdraft until the Cheque clears?


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    #2
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    Glacier wrote: »
    I have a crossed Ulster Bank cheque for €1,500. I don't have an Account with the Bank so it will take days to clear. Is there any way I could get access to the cash sooner? If I'm not working, is there any chance I could get a €200 temporary overdraft until the Cheque clears?

    You could ask your branch this question and see what they say. Normally you can access the funds after 3 days, but it still takes 6/7 days to fully clear so make sure your 100% certain about whom gave you the chq. A temp overdraft is more hassle than its worth, plus you may be charged a few to have one setup depending on what bank you with.


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    #3
    Glacier
    Closed Accounts Posts: 647 ✭✭✭Glacier


    It's from a Stockbroker's from the sale of shares. Thanks, but do you still think they would give me one (overdraft)? How can you access funds after a few days? Anyone?


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    #4
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    Glacier wrote: »
    It's from a Stockbroker's from the sale of shares. Thanks, but do you still think they would give me one (overdraft)? How can you access funds after a few days? Anyone?

    Access funds via ATM, in the branch.

    An O/D is credit scored, so I can't say if they'd give you one.


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    #5
    IsThatSo?
    Closed Accounts Posts: 988 ✭✭✭IsThatSo?


    If you withdraw against the funds before the cheque has cleared you could end up paying "interest on uncleared funds". This wouldn't be charged until the following interest quarter so can be a shock. If you do draw against uncleared funds its similiar to having an overdraft charge wise, at the end of the day (without the set up fee of course). Thing is that it is at your banks discretion as to whether they will allow you to draw against the uncleared funds.


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