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Lodging a UK cheque?

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  • 07-07-2010 4:22pm
    #1
    raveni
    Registered Users Posts: 433 ✭✭


    Just wondering, I have a cheque from the UK and was wondering if there would be any extra cost or difference in lodging it to my account than with an Irish cheque.
    I'm with AIB and the cheque is a Nationwide building society cheque if that makes any difference.

    Also, not had to lodge a cheque before, so I was wondering how long would it take to clear? I hear 3-5 days a lot, would this be the same with a UK cheque and with AIB?


    Edit: One more thing...:o How do you know when the cheque has been cleared? Does the bank let you know?


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    #2
    greenman09
    Registered Users Posts: 1,909 ✭✭✭greenman09


    It takes 5working days for a cheque to clear. To see if its cleared u could check at an atm ur available balance or if you have online access to online banking. If it is a gbp chq u are lodgIng you will be subject to the exchange rate of the day for lodging the chq. In some banks it can take up to 20 working days to clear a foriegn chq. And there is the commission taken off for changing the chq and lodging as euro.


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    #3
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,920 Admin ✭✭✭✭✭Toots


    You should be able to access the funds after five days, however the cheque won't be fully cleared for up to twenty days.


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