Lodge Cheque to Credit Card

KoolKid

Hi I have a relatively large cheque due to me that I wish to use to clear my credit card.
Can I lodge this in the usual way via a machine and then withdraw the excess when the account is in credit?

Bank of Ireland: Sarah

KoolKid wrote: »

Hi I have a relatively large cheque due to me that I wish to use to clear my credit card.
Can I lodge this in the usual way via a machine  and then withdraw the excess when the account is in credit?

Hi Koolkid,

Thanks for contacting us on Boards.

Yes you can certainly lodge a cheque to your credit card using a Lodgement ATM. However if this is a foreign cheque, please note that this can take four to eight weeks to clear.
Once your account is in credit, you can then make a cash withdrawal.

Please be aware that when you withdraw cash from your credit card, there is a cash withdrawal fee of €2.54 or 1.5%, whichever is greater. This will apply unless your credit card account is in credit when the transaction hits the account (which can take three to five working days) and has a zero or credit balance after the transaction hits the account.

You must wait for the cheque to clear before you make any withdrawal, otherwise a cash advance fee and cash interest fee applies.

I hope this helps and please let us know if you need help with any other query.

Thanks,
Sarah

KoolKid

Thank you Sarah.
It won't be a foreign cheque, more likely a draft.
To clarify once that clears and the account is in credit there would be no withdrawal charges?

Bank of Ireland: Sarah

KoolKid wrote: »

Thank you Sarah.
It won't be a foreign cheque, more likely a draft.
To clarify once that clears and the account is in credit there would be no withdrawal charges?

Hi KoolKid,

Thanks for your reply. 

Yes that's correct, there would be no withdrawal charges.

Also, just to mention, if you wish to call our Credit card team before you withdraw cash, on 0818 251 251, a representative with account access can double check your account is clear and clarify that you won't be charged. You can also send this query in when you are logged in to Bank of Ireland 365 Online through your credit card account. 

Thanks,
Sarah

KoolKid

Thanks again Sarah