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How long before a Bank Draft can be cancelled

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  • 05-11-2012 1:21pm
    #1
    juan.kerr
    Closed Accounts Posts: 2,766 ✭✭✭


    Hi,

    A Bank Draft that was sent in mid October has gone missing. On the assumption that both the sender and (non) receiver accept that it has gone missing and are willing to sign statements to that effect, how long will the sender normally need to wait before being able to cancel the Bank Draft?

    Unfortunately I don't yet know the bank that issued the draft but I believe the sender has the original receipt.


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    #2
    Bigserious1
    Registered Users Posts: 248 ✭✭Bigserious1


    The person who sent the draft has to chase this up with their bank.

    They state it was lost and the bank checks to see if it has been paid.

    If not the bank will re-issue the draft for the same amount or refund the payment I believe.

    Although if the draft was for a foreign currency you will probably not get back the amount paid for it. (depending on exchange rates of course).

    No big deal. If its a domestic draft it should take a day or two.


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    #3
    amen
    Registered Users Posts: 2,781 ✭✭✭amen


    No big deal. If its a domestic draft it should take a day or two

    you would think. There was article in the Irish Times 5-6 years about a couple who were waiting several years for an Irish Bank to cancel a Bank Draft that was lost. (It was for several 000's of IR punts)


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    #4
    juan.kerr
    Closed Accounts Posts: 2,766 ✭✭✭juan.kerr


    Thanks for the responses. It is a Euro bank draft for an amount under EUR 1000.


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    #5
    Bigserious1
    Registered Users Posts: 248 ✭✭Bigserious1


    I'm sure it can be re-issued pretty quickly.

    Perhaps yes if the draft was quite old it could lead to complications with a bank reconciling it against their records but it would have to be a few years old I'd guess.


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