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Cant redeem a cheque

  • 05-09-2017 10:52pm
    #1
    Hollywood Passer
    Registered Users Posts: 8 ✭


    I was given an AIB cheque for €400 made out to "CASH".
    I brought it to the AIB branch written on the bottom of the cheque and they told me their policy is not to cash cheques made out to "CASH".
    They will only lodge it to an AIB account which I dont have.
    I brought it to my own bank TSB and they will neither cash it nor lodge it to my account.
    I cant contact the person who gave me the cheque.
    Anybody got any experience with this?


Comments

  • #2
    vandriver
    Registered Users, Registered Users 2 Posts: 3,465 ✭✭✭vandriver


    Hollywood Passer wrote: »
    I was given an AIB cheque for €400 made out to "CASH".
    I brought it to the AIB branch written on the bottom of the cheque and they told me their policy is not to cash cheques made out to "CASH".
    They will only lodge it to an AIB account which I dont have.
    I brought it to my own bank TSB and they will neither cash it nor lodge it to my account.
    I cant contact the person who gave me the cheque.
    Anybody got any experience with this?
    Did Tsb give any reason why they would not take the cheque?


  • #3
    P. Breathnach
    Registered Users, Registered Users 2 Posts: 12,089 ✭✭✭✭P. Breathnach


    AIB are in breach of law. By definition, a properly-drawn cheque that is uncrossed is payable on demand. The branch on which it is drawn cannot properly adopt a policy to disregard the law.

    [I am assuming that the cheque has not been crossed, because you didn't mention any crossing; that would change things.]

    If the cheque is uncrossed, it might be time to seek the assistance of the Financial Services Ombudsman.


  • #4
    Lux23
    Registered Users, Registered Users 2 Posts: 7,134 ✭✭✭Lux23


    Do you know anyone with an AIB account that won't keep the money? Might be the easiest option in the long run. Or failing that open an account and then close - my parents had to do that with a Serious Illness payout my Dad got as it was was in both their names but they never had a joint bank account.


  • #5
    Hollywood Passer
    Registered Users Posts: 8 ✭Hollywood Passer


    Did Tsb give any reason why they would not take the cheque?[/quote]

    Not really. I spoke to them on their twitter page. They just said their policy is that they will only accept cheques made out to the account holder not "cash".


  • #6
    Hollywood Passer
    Registered Users Posts: 8 ✭Hollywood Passer


    P. Breathnach wrote: »
    AIB are in breach of law. By definition, a properly-drawn cheque that is uncrossed is payable on demand. The branch on which it is drawn cannot properly adopt a policy to disregard the law.

    [I am assuming that the cheque has not been crossed, because you didn't mention any crossing; that would change things.]

    If the cheque is uncrossed, it might be time to seek the assistance of the Financial Services Ombudsman.
    Thanks for that Breathnach. I think I will go to the financial ombudsman regarding this as I've had to waste so much time on this.
    It turns out BOI will lodge cheques made out to "cash". A friend has an account with BOI so I am asking him to lodge it and then withdraw the funds.  The only issue is the cheque will take 5 working days to clear!


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  • #7
    RossieMan
    Registered Users, Registered Users 2 Posts: 6,766 ✭✭✭RossieMan


    Who takes cheques for cash these days?

    You've also not said if the cheque has been crossed or not.


  • #8
    Hollywood Passer
    Registered Users Posts: 8 ✭Hollywood Passer


    RossieMan wrote: »
    Who takes cheques for cash these days?

    You've also not said if the cheque has been crossed or not.
    not crossed


  • #9
    c6ysaphjvqw41k
    Closed Accounts Posts: 466 ✭✭c6ysaphjvqw41k


    This post has been deleted.


  • #10
    Nervous Wreck
    Closed Accounts Posts: 16,115 ✭✭✭✭Nervous Wreck


    Hollywood Passer wrote: »
    Thanks for that Breathnach. I think I will go to the financial ombudsman regarding this as I've had to waste so much time on this.

    FSO won't take the complaint until you've logged it with AIB first.


  • #11
    Hollywood Passer
    Registered Users Posts: 8 ✭Hollywood Passer


    Just to update here, I lodged a complaint with the ombudsman regarding TSB being the only Irish bank who wont lodge a cash cheque to an account.

    He thought their policy was unusual but directed me to go through TSBs complaints channels first.
    I've done that now. I'm aware its a bit of a crusade but I'm just sick of TSB. They've spent millions automating their branches & everytime I'm in a branch there are bewildered pensioners at the end of the tether being directed to machines & online banking.
    It was a pensioner who gave me this cheque. She doesnt have online banking, she doesnt even have a mobile phone!
    TSBs cheque policy is just an admin & human employment saving for them.
    And I wont even start about their standard variable rate rip-off.
    Im going to see this through!!


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  • #12
    Nervous Wreck
    Closed Accounts Posts: 16,115 ✭✭✭✭Nervous Wreck


    P. Breathnach wrote: »
    AIB are in breach of law. By definition, a properly-drawn cheque that is uncrossed is payable on demand. The branch on which it is drawn cannot properly adopt a policy to disregard the law.

    What law is this?


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