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Sterlng 2 Euros

  • 08-10-2017 8:20pm
    #1
    kerberos2506
    Registered Users Posts: 18 ✭


    Any help...

    Just received a sterling cheque for a few thousand, went to put this into my AIB account but was told because of the amount this could take up to 6 weeks or more to clear. Unfortunately this time is not on my side.

    Would anyone know of other alternatives to get it cashed.

    Thanking you:


Comments

  • #2
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,921 Admin ✭✭✭✭✭Toots


    You won't get anywhere that'll cash a foreign cheque for a few thousand. The bank will send that on collection, and as they said it will take up to 6 weeks to clear. They may also apply a charge for it.

    My advice for customers who were tight for time was usually to see could the person who issued the cheque send the money over by bank transfer instead, that way it is clear as soon as it hits your account and normally only takes about a week.


  • #3
    my3cents
    Closed Accounts Posts: 9,764 ✭✭✭my3cents


    If you have that amount in your account then you can cash the check but obviously you still have to wait for the check to clear before you draw on the couple of thousand.


  • #4
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,921 Admin ✭✭✭✭✭Toots


    You can't cash a foreign cheque in Ireland. The only place that could cash the cheque is the bank and branch where it is drawn.


  • #5
    NewsMeQuick
    Closed Accounts Posts: 643 ✭✭✭NewsMeQuick


    I don't know about getting it cashed faster but, if the bank's commmission turns out to be high, ask AIB. AIB is not my normal bank, I think they're the Vodafone/Eir of banks, but when I had to change a couple of CAD cheques, my bank actually told me to try other banks because they were cheaper. AIB charged something like €10 and were very fast about getting it done.


  • #6
    my3cents
    Closed Accounts Posts: 9,764 ✭✭✭my3cents


    Toots wrote: »
    You can't cash a foreign cheque in Ireland. The only place that could cash the cheque is the bank and branch where it is drawn.

    I just did exactly that only last week, I did however have more than the value of the cheque in my bank to cover it.


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  • #7
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,921 Admin ✭✭✭✭✭Toots


    my3cents wrote: »
    I just did exactly that only last week, I did however have more than the value of the cheque in my bank to cover it.

    What they probably did was put the cheque in your account and let you have cash against it straight away. Cashing a cheque means it doesn't go anywhere near your account. I can't imagine any branch letting a customer draw against a large foreign cheque before it has cleared, especially if they don't usually lodge high value foreign items.


  • #8
    Quackster
    Moderators, Regional South Moderators Posts: 5,826 Mod ✭✭✭✭Quackster


    kerberos2506 wrote: »
    Any help...

    Just received a sterling cheque for a few thousand, went to put this into my AIB account but was told because of the amount this could take up to 6 weeks or more to clear. Unfortunately this time is not on my side.

    Would anyone know of other alternatives to get it cashed.

    Thanking you:

    If you need it cleared fast and are anyway near Northern Ireland, consider opening a free current account in a bricks and mortar bank there. You could then use Revolut, TransferWise etc to convert the sterling to euro and save a good few quid over what you'd get by lodging the cheque into an Irish bank account.


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