How long for cheque to clear

Sephiroth_dude

I lodged an aib cheque into my aib account this morning, am I right in thinking it's 3 days to clear? So it should be cleared by Friday?

kuro2k

AIB cheque into AIB a/c is same day value

Sephiroth_dude

https://www.boards.ie/discussion/comment/122354305#Comment_122354305

Thanks for the reply, hmm not showing in my account, does it take a couple of hours?

kuro2k

did you lodge via machine or at bank counter?

if at counter it’s should have hit your account before you left the bank. If via machine it could be end of day

Sephiroth_dude

It was the machine, nice to know this for future reference, thanks.

cal naughton

https://www.boards.ie/discussion/comment/122354305#Comment_122354305

Incorrect an aib cheque into an aib account will take 3 working days to clear for use. With boi ptsb cheques taking 5 working days.

Op it will show in your account today once verified

kuro2k

aib introduced same day value in the late 90’s for AIB cheques into AIB a/c, it was the major selling point of their ‘new branch banking system’.

When did this change to 3 days?

whelan2

https://www.boards.ie/discussion/comment/122354657#Comment_122354657

It's been 3 days for a while, 5 days for other banks to aib. Ridiculous. Should be clear straight away. It will show up on your account but wont clear

Sephiroth_dude

Ahh that's disappointing but ok thanks for the replies, so Friday then?

Sephiroth_dude

Should have mentioned it's a credit union cheque, they use aib , would it take longer to clear because it's a credit union cheque ?

coylemj

https://www.boards.ie/discussion/comment/122355279#Comment_122355279

It's just a cheque drawn on another AIB account. It will make no difference if it was written by your uncle in Donegal or the local credit union. The only thing that matters is if there is sufficient money in the drawer's account.

I know you're asking about AIB but, for what it's worth, my experience of BoI is that if you're a customer of long standing and you don't have a history of unauthorised overdrawing and the amount isn't huge, they could credit your account before the cheque clears. It's a trust thing, similar to the decision they make about whether you're allowed to withdraw cash from an offline ATM.

tabby aspreme

It varies , if I lodge at the counter, it's in my account immediately, irrespective of what bank the cheque comes from, this facility was put in place without my asking years ago, but I remember being told about it at the counter at the time

Tow

With BOI, it is flag set on the account to give instant credit once a cheque is lodged. I had it set years ago.

Drifter100

All sorts of different arrangements apply here.

Standard is AIB cheque, lodge Monday the value will be in your account Wednesday morning

Any other bank , lodge Monday, value in your account Friday.

If you get paid by cheque you can arrange with your bank to get value on that cheque when you lodge it but you need to advise them and get clearance so they can set your employers IBAN on their system. Same would apply of the creamery paid you once a week then you could get special clearance on the creamery cheque