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Cheque clearance

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  • 13-02-2013 5:02pm
    #1
    Dtp79
    Closed Accounts Posts: 2,097 ✭✭✭


    Why the hell in the modern age with all our technology does it still take 5 days to clear a BOI cheque in a BOI account ?


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    #2
    Bank of Ireland: Tara
    Closed Accounts Posts: 2,346 ✭✭✭Bank of Ireland: Tara


    Hi Dtp79,

    Thanks for getting in touch.

    All cheques and drafts are subject to clearing. The clearance time for a BOI cheque lodged to another BOI account is 3 working days. If you regularly receive a payment from another BOI customer, one option would be to ask that they transfer the funds to you online. Transfers between BOI accounts are immediate with no clearance time involved.

    Thanks
    Tara


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    #3
    Eoin
    Registered Users Posts: 21,256 ✭✭✭✭Eoin


    Hi Tara

    Sorry to hijack this thread, but it's a related query:

    I lodged a check last Tuesday, and a week later (6 working days at this stage if you include both Tuesdays ) the funds are displayed on my account, but still not available to actually transfer to my credit card. How can it take so long? It's not BoI to BoI, but still - that's a very long time. EFT is not an option in this case.

    Also - transfers are not instantly reflected on my credit card balance as you suggested above - once I can finally transfer the funds to my credit card, how long will it take before I can actually avail of them? 

    thanks,

    Eoin


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    #4
    Bank of Ireland: Linda
    Closed Accounts Posts: 719 ✭✭✭Bank of Ireland: Linda


    Hi Eoin,

    It should normally take 5 working days but it as this is very account specific, you will need to contact your branch directly.

    A credit card account is different to transferring between two Bank of Ireland current accounts. If you need fund immediately in your credit card account, please lodge cash through a Lodgement atm machine. Alternatively it can take one working day if the transfer is made online.

    Hopefully this clears up your questions but if you have any further queries, please feel free to ask.

    Thanks
    Linda


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