How soon after lodging / transferring money in a bank current account can you withdraw cash?

I am me123 · 26-10-2021 3:10pm #1

Anyone know if there is a time period lapse needed between lodging or transferring money in a current account ( between 2 different banks) and when same money is permitted to be withdrawn from an A.T.M.?

Thanks all 😊

spurious · 26-10-2021 3:15pm

Depends on the bank. I know Permanent TSB are very slow.

Allinall · 26-10-2021 3:18pm

It also depends on what form of money is being lodged.

Cash, cheque from same bank, cheque from different bank, different currency etc.

I am me123 · 26-10-2021 3:19pm

https://www.boards.ie/discussion/comment/118075363#Comment_118075363

Thanks. I am transferring funds to new AIB current account from Ulster bank.

Dial Hard · 26-10-2021 3:21pm

As soon as the funds appear in the recipient account. UB to AIB is usually next day, but not always. Keep an eye on your AIB online banking and once the funds show up there, you can withdraw them.

I am me123 · 26-10-2021 3:54pm

https://www.boards.ie/discussion/comment/118075401#Comment_118075401

Thanks, so if I transfer the money ( Its not a terribly large amount) from UB to AIB tomorrow morning, would the funds usually show up in AIB Thursday morning this week?

The J Stands for Jay · 26-10-2021 6:01pm

Isn't the solution here to withdraw the cash before the transfer?

G_R · 26-10-2021 6:24pm

https://www.boards.ie/discussion/comment/118075552#Comment_118075552

I have accounts with both, if you do it early morning from one, it usually shows up later that same day, but they only guarantee next day.

Once it appears, you can withdraw.

Atlantic Dawn · 26-10-2021 6:33pm

As far as I know if it's done before 10am it's in the other bank first thing next working day.

I am me123 · 26-10-2021 9:57pm

Great! Thank you everyone. 😊

I am me123 · 26-10-2021 10:03pm

https://www.boards.ie/discussion/comment/118076335#Comment_118076335

Thanks a mill!

Quick question, if it's transferred after 10am when approx. should it be in other bank?

Atlantic Dawn · 26-10-2021 10:20pm

https://www.boards.ie/discussion/comment/118077413#Comment_118077413

I think between 4am-8am, exact time I'm unsure as different banks run different jobs overnight but that should be a good guide.

Heighway61 · 26-10-2021 11:11pm

Off topic but this thread reminded me of the time shortly after the introduction of ATM cards when you could make a withdrawal at the counter then go outside to the ATM and withdraw the same money again.

coylemj · 27-10-2021 11:54am

A lot depends on your own bank and the level of trust they have in you. I have a current account in BoI, last week I walked up to a BoI ATM, lodged an AIB cheque and they credited the amount to my account straight away.

I know from a long time ago that BoI discriminates between account holders. For example, in the early days of ATM machines, if a BoI ATM went offline, someone like a student would be refused a cash withdrawal but I was in a steady job with my salary going into my current account every month so I was always able to get cash, up to the daily limit.

coylemj · 27-10-2021 11:56am

https://www.boards.ie/discussion/comment/118077739#Comment_118077739

Sounds like AIB, their ATMs were originally offline. You had to be a customer in good standing with your branch to get a Banklink card because the machine couldn't check your balance. The date and time of your last withdrawal was recorded on the magnetic strip, to stop you making a series of withdrawals in a short space of time.

I am me123 · 27-10-2021 2:29pm

Hi all,

Got clarification today from bank on the above,

Was told the transferred money would be in my new account in 5 days.

Thanks very much for the replies above too.

Have a nice day all 😊

How soon after lodging / transferring money in a bank current account can you withdraw cash?

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