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Clearing Irish cheque to UK bank a/c

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  • 04-06-2010 5:29am
    #1
    Chev
    Closed Accounts Posts: 5 ✭


    Hi all,

    I recently lodged a large (€2500) Euro cheque issued by BOI to a UK sterling Lloyd's account. I was told by the cashier that it would take a week or so to clear (or even be reflected in my balance).

    When I was dropping into the branch on an unrelated matter four working days later I was informed that it would now take up to four to six weeks due to some archaic banking systems that are put into effect for untrusted customers with large cheques.

    Obviously I was pissed off (I could've posted the bloody thing home and got a friend to lodge it to my Irish account and then done a transfer in far less time).

    Anyway, I was wondering if anyone has experience of how long this will REALISTICALLY take. It seems that the four to six weeks is more a matter of a cheque from a tiny village post office in Africa and a worst case scenario. Anyway with any experience able to fill me in?


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    #2
    BuffyBot
    Registered Users Posts: 24,924 ✭✭✭✭BuffyBot


    Seems reasonably accurate due to the large amount of fraud which occurs in these cases. It may take a lot less, but be prepared for it to take that long.


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    #3
    daithijjj
    Registered Users Posts: 7,588 ✭✭✭daithijjj


    Agree with buffybot.

    When i used to get cheques in irish denomination paid into my uk account it was 14 working days to 6 weeks to get it cleared. Sometimes you can draw on it earlier but it usually took 4 weeks.


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    #4
    Chev
    Closed Accounts Posts: 5 ✭Chev


    Thanks, guys.

    Eviction, here we come!


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    #5
    Chev
    Closed Accounts Posts: 5 ✭Chev


    Just a quick update for those who happen across this thread in the future. Money was just paid in (instantly cleared). By my count sixteen working days, all told. Was twelve working days from the date on a letter I received from Lloyd's (4th) informing me that the cheque would be sent for collection.


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    #6
    Blackjack
    Registered Users Posts: 3,612 ✭✭✭Blackjack


    Not sure if this helps, but I had BOI accounts here and in the UK. I lodged cheques both directions on occasions, never had to wait more than 5 days for them to clear.

    That said, their systems are somewhat linked so they can tell if the account is good for the money, and both accounts were in my name, so they knew what to expect.


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