Cheques (clueless)

RubyXI

I'm gonna sound dead stupid here.
I'm expecting a cheque, only for €20.
Can i cash it or must i lodge it?
Do i have to lodge it in my own bank (aib) or can i lodge it in a different one?
Do i have to lodge it in my own branch of the aib?
Can i do it by post or internet banking, as banks open very awkward times?
Sorry for the silly questions but i don't get cheques very often!

steo87

(1) some places will cash it for you, i.e. my local shops cash cheques for regular customers.
(2) depending on which bank the cheque was drawn from (i.e. what bank is written on it) they can usually cash it there and then for you. This usually happens with small amounts, so with a cheque for 20.00 you should be able to cash it.
(3) you can lodge it in any branch of your bank.
(4) cannot be done by post or internet banking. To save time, use the Quicklodge stations which can be found in most branches (the AIB in Dame St. has one)

And depending on the cheque, there may be a "clearance" period. For example, if the cheque is crossed (i.e. "account payee only") this usually takes 3-5 days to clear.

IsThatSo?

My tuppence worth:

You can do it by post, I regularly post in cheques to my bank and they lodge them for me and never been a bother. Really, when you think of it, what is the difference between using a Quicklodge/Express lodgement facility and posting? You are not present when they process it either way!!

You cannot cash a cheque if its crossed, it will have to be lodged. There are different types of crossings but they all have to be lodged rather than cashed. While your local shop might cash it they run the risk of not being able to lodge it to their account, depending on the cross on the cheque.

Crossing of cheques does not affect clearance time, all cheques take 3-5 days to clear unless its a cheque drawn on the same bank you hold your account with.

Random

What I do with my banks ... pop the cheque in an envelope. Pop my account number on the back, post it in. Never had a problem with AIB or UB!

Cicero

OP
If its a crossed cheque, you must lodge it, it cannot be cashed.

If it is uncrossed, you may be able to cash it in the bank and branch the cheque is drawn on, providing you have sufficient identfication i.e. if cheque drawn on AIB Swords,and cheque is uncrossed, you can go to AIB Swords to cash it- i.e. you can't cash it in AIB Dame st if drawn on AIB swords

You can go into any AIB branch if your own is not convenient, fill out a giro/Credit Transfer docket, and lodge it to your own AIB branch

It will generally take somewhere from 3-5 days for the cheque to fully clear, but depending on how your account is set-up, you may have access to the funds earlier than this

You can of course, post the cheque directly to your own bank branch with a cover letter asking them to lodge it to your account- -include account number and day time contact telephone number in case theres an issue

You may find a retailer willing to cash it, but this is rare these days.

RubyXI

Thanks, I think i will post it because there's no way of getting to a bank any time soon.