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Cheque and cash withdrawal query

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  • 08-08-2012 11:44am
    #1
    invinciblePRSTV
    Closed Accounts Posts: 2,017 ✭✭✭


    Hi there, why is it that my local BOI branch will allow me to lodge an AIB cheque into my account and withdraw cash instantly whereas the BOI branch which is by my workplace insists that it will take the same cheque 3-5 days after lodgement to clear before i can withdraw cash?


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    #2
    Bank of Ireland: Graham
    Closed Accounts Posts: 371 ✭✭Bank of Ireland: Graham


    Hi invinciblePRSTV,

    Thanks for getting in touch. The clearance time for non-BOI cheques is five working days. However, your local branch may give you access to the funds before they have cleared. If the cheque fails to pass our examination and verification process, it can be debited from your account.

    I hope this helps to clear things up.

    Thanks,
    Graham


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    #3
    invinciblePRSTV
    Closed Accounts Posts: 2,017 ✭✭✭invinciblePRSTV


    Hi Graham.

    Thanks for clarifying the issue for me but I'm still left somewhat confused. Under the working practice you've outlined, surely the branch by my workplace would be able to let me lodge the cheque and withdraw cash ASAP on the basis that if the cheque doesn't clear then it can be debited out of my account?


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    #4
    Tow
    Registered Users Posts: 7,369 ✭✭✭Tow


    invinciblePRSTV wrote: »
    Under the working practice you've outlined, surely the branch by my workplace would be able to let me lodge the cheque and withdraw cash ASAP on the basis that if the cheque doesn't clear then it can be debited out of my account?

    You can get your branch to change a flag on your account to allow it.

    When is the money (including lost growth) Michael Noonan took in the Pension Levy going to be paid back?



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    #5
    Bank of Ireland: Linda
    Closed Accounts Posts: 719 ✭✭✭Bank of Ireland: Linda


    Hi invinciblePRSTV,

    Graham is correct in saying that it can take five working days for a cheque to clear. There may be an agreement with your local branch which will allow more immediate access to the money.

    I hope this clears it up.
    Thanks
    Linda


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