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Bank Draft??

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  • 21-05-2009 3:24pm
    #1
    Jim05
    Registered Users Posts: 70 ✭✭


    Just wondering I have the option of buying a vehicle using bank draft. The cost of the vehicle is €4800. I've never used a bank draft before, is it just a case of going into the bank and asking for one? How much do they charge for them? also when I'm getting one do they make it payable to a person ie. the person I'm buying the vehicle off or is it just a draft for the €4800 payable to anyone? Thanks


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    #2
    the roo
    Registered Users Posts: 161 ✭✭the roo


    you ask for one at the counter i presume you have the money i.e. 4800 in ur a/c to cover it. aib charge €1.90 per draft. they usually make it out payable to who ever but you can also ask them just to leave it blank and fill in the name urself


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    #3
    Jim05
    Registered Users Posts: 70 ✭✭Jim05


    Ya I have the money in my a/c!! I'm with bank of Ireland by the way, thanks


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    #4
    LouOB
    Closed Accounts Posts: 1,181 ✭✭✭LouOB


    You have to go the bank which you have your account in
    Hence you cannot go into AIB with 4800 cash and ask for draft - some small branches in da country might allow this (as its the only branch for x number of miles)

    Make sure you take the teller name, date and time down when you purchased draft
    As they are complicated to trace if it goes missing - word of warning


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    #5
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,919 Admin ✭✭✭✭✭Toots


    finn28 wrote: »
    you ask for one at the counter i presume you have the money i.e. 4800 in ur a/c to cover it. aib charge €1.90 per draft. they usually make it out payable to who ever but you can also ask them just to leave it blank and fill in the name urself

    No you can't! Drafts have to be issued to a specific payee, you can't leave the payee blank or have one made out to 'cash'.
    Jim05 wrote: »
    Ya I have the money in my a/c!! I'm with bank of Ireland by the way, thanks

    You just need to go to the customer service desk in your local BOI branch. Bring photo ID with you also. The draft will cost you €2.20


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    #6
    IsThatSo?
    Closed Accounts Posts: 988 ✭✭✭IsThatSo?


    Toots* wrote: »
    No you can't! Drafts have to be issued to a specific payee, you can't leave the payee blank or have one made out to 'cash'.

    Yep, Toots is correct OP, no way you will get a "blank" draft.


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