Bank draft

Ksia · 02-12-2023 3:34pm #1

Hi

I have bank draft which I can not use abroad (even though I was told by my bank that it won't suppose to be a problem). Is there any possibility to cancel bank draft ? Or to send this funds from bank draft to another account in another EU country? I contacted bank but they were not helpful :(

Jim2007 · 02-12-2023 5:02pm

You need to take it back to the bank that issued it to you, they will return the cash to your account and you can then transfer it where ever you wish.

Qrt · 04-12-2023 12:34am

I reckon it needs to be brought to the issuing branch, some form filled out, then the amount credited to your account.

I think you can also just lodge it into your own account.

Ksia · 08-12-2023 12:22am

Hi

The problem is that the account was closed straight after I got bank draft.

I contacted bank and they dont care. Well, customer service did not care.

So I am completly lost now what to do next.

Qrt · 08-12-2023 1:54am

https://www.boards.ie/discussion/comment/121469185#Comment_121469185

Which bank is it? Bank drafts are drawn on separate accounts to customer accounts, which is why they’re guaranteed funds-wise.

Jim2007 · 08-12-2023 7:27am

https://www.boards.ie/discussion/comment/121469185#Comment_121469185

Who is the draft made payable to?

Ksia · 08-12-2023 10:42am

It is Bank of Ireland.

Ksia · 08-12-2023 10:43am

Hi. It is Bank draft payable to me. It was taken from my account then account was closed.

Jim2007 · 08-12-2023 11:07am

OK, so back to basics here...

You can't cash a cheque or a draft it must be sent for collection. That means it must be physically presented for payment at the bank upon which it has been drawn. Pretty much every bank in the EU/EEA/CH and most beyond that offers this service - You open an account with them, you hand over the draft and depending on their policy they may credit your account immediately with the amount (possibly not if you are a new customer) or they wait until after they have presented the draft for payment and received the payment from the bank upon which it is drawn. You will of course have to explain to them the source of the money and of they will charge you a substantial fee for doing so.

Given the current MLA laws and EU directive on the matter I very much doubt there is any other way for you to obtain payment for your draft.

Henry Ford III · 08-12-2023 11:30am

https://www.boards.ie/discussion/comment/121469904#Comment_121469904

Sounds a bit odd tbh. Why did you get a draft payable to yourself and then close the account?

waterwelly · 08-12-2023 11:43am

https://www.boards.ie/discussion/comment/121470132#Comment_121470132

He says he's abroad. So I'm guessing he closed the account to emigrate and withdrew funds

Now can't cash his draft.

Personally I'd just leave my Irish account alone and close it when not needed / empty.

Ksia · 08-12-2023 12:01pm

Yes. I moved to another country. And I closed the account as it was advised per bank. I am angry at myself tgat I did not left it open, it would be so much easier now. I did not have an account in Euro in diffrent country yet.

They told me that I wont have any problems with this bank draft abroad but well it was not true. Many banks do not accept cheques from abroad. It is no annyoing.

Jim2007 · 08-12-2023 1:13pm

https://www.boards.ie/discussion/comment/121470261#Comment_121470261

Where did you move to and specifically which banks told you they do not have a service to present foreign checks for collection. I have worked for over three decades in European banking and I have never heard of any European bank refusing to accept a draft, even if you don't have an account in Euros, so I'd be very interested to hear the exact details.

Kalimah · 08-12-2023 1:38pm

https://www.boards.ie/discussion/comment/121470596#Comment_121470596

Same here. I worked for B of I for 20 odd years in branch banking, and there was never an issue with sending or receiving foreign cheques for collection.

Ksia · 08-12-2023 2:27pm

Hi

It is Poland.I have tried so far mbank, Citibank handlowy, Pko bp, ING and couple more.

It is strange for me as well.

Jim2007 · 08-12-2023 7:09pm

https://www.boards.ie/discussion/comment/121470927#Comment_121470927

I'm at a loss to tell you what to do. I find it hard to imagine that Polish banks do not provide this service as it would be very difficult to offer customers a full service otherwise. It is possible that somehow there is a miss communication between you and the banks? There are an awful lot of Polish people working abroad so surely lots of Polish residents end up with foreign cheques they need to cash! Are you specifically asking them to send the draft for collection and they are say sorry we do not provide this service.

The only other things I can think of is that maybe the don't want to do this for new customers or there is some kind of MLA issue.

Qrt · 08-12-2023 9:23pm

found on here

https://www.boards.ie/discussion/2058195224/cancel-bank-draft

Jim2007 · 08-12-2023 9:46pm

https://www.boards.ie/discussion/comment/121472676#Comment_121472676

Problem is the OP has closed his accounts in Ireland and left the country.

Qrt · 09-12-2023 12:05am

https://www.boards.ie/discussion/comment/121472759#Comment_121472759

The branch will have some reversal indemnity form to fill out, might involve sending it back to them my registered post. Tbh I’d recommend getting in touch with the branch directly and getting an email for the staff there.

Mrs OBumble · 09-12-2023 1:00am

You need to find a local contact for advice. There must be some way to deal with this in Poland. Are there any Facebook groups for English-speaking immigrants (or expats :) ) in Poland? Someone there might be able to help.

Ksia · 09-12-2023 11:21am

Hi

I have done it. They replied : manager told you that maybe it wont be possible in your country ( which they did not), and their answer was : you have to find some way. I was in shock.

I can fly to Ireland and take care of it I dont mind, but how to do this? If they could just cancel it, reopen my closed account, and then sent all this money to my account in Euro in Poland. But apparently they can not do this.

Jim2007 · 09-12-2023 6:09pm

https://www.boards.ie/discussion/comment/121474160#Comment_121474160

Like @Mrs OBumble says, I think you need to find someone in Poland that has done this. This is the standard way to close down your accounts - receive a draft drawn on the bank for the account balances. You can't be the first Polish citizen returning to Poland after working in Ireland who has done this.

I don't believe flying to Ireland on speculation that you can sort this out is a good idea. For a start you are getting no encouragement from the Irish bank that they are able to sort it out and as you are no longer resident in Ireland opening an account there is probably not going to fly either.

Two long shots you might check out:

If you know someone with a long established relation with their Polish bank, see if their bank would be willing to do it for them. If so you could perhaps endorse the draft over to them.
Same idea to see if a business owner could do it for you. Some times the services offered to business owners are different.

Qrt · 09-12-2023 10:10pm

It sounds like BOI issued you with a domestic draft (for Ireland and UK) rather than the foreign one they should have issued. I’d get this clarified.

Jim2007 · 10-12-2023 9:39am

https://www.boards.ie/discussion/comment/121476937#Comment_121476937

Well we are definitely missing some detail here, but what... hopefully when the OP figures it out they'll comeback and let us know, so the next person won't have it so hard.

coylemj · 11-12-2023 12:26pm

https://www.boards.ie/discussion/comment/121476937#Comment_121476937

If you bought a sterling draft, it was always drawn on (i.e. payable by) a UK bank, I don't recall such a thing as a 'domestic' draft for Ireland and the UK. I assume the OP got a draft denominated in Euros, in which case it would have been drawn on Bank of Ireland in Dublin.

If you get one of these 'foreign' drafts you're talking about, where would it be drawn on?

11-12-2023 12:48pm

coylemj · 11-12-2023 2:57pm

Just remembered that in recent years, I got my drafts in EBS so probably haven't picked up a draft in a branch of BoI in a long time. EBS don't do drafts any more.

I sympathise with the OP's situation but the standard of customer-facing staff in BoI branches has gone through the floor in recent years.

NewbridgeIR · 11-12-2023 11:31pm

When the euro came in back in 2002, it was possible to buy a foreign euro draft drawn on a correspondent bank in whatever eurozone country you wanted.

Poland is not in the eurozone so BOI should not have issued that domestic euro draft without providing some sort of explanation to the customer (assuming he told them the full story).

JVince · 11-12-2023 11:56pm

Two realistic options.

Reopen the account here (or open new account here), lodge draft, await clearance (5,days) and then make transfer to Poland.

Or sign back of draft, give it to someone here you trust very well, allow 5 days, then they make transfer to you.

coylemj · 12-12-2023 12:53pm

Poster NewbridgeIR (post #28) above is correct, the OP should not have been sold a Euro draft when the intention was to lodge it in a bank in Poland. Did the OP make this clear to the staff member in BoI who sold him the Euro draft?

Inbranch or online, you can order a 'Foreign Currency Bank Draft' (to be collected in a branch nominated by you) in a range of different currencies....

https://form.bankofireland.com/bank-draft-request-form/

Ksia · 14-12-2023 4:08pm

Hi

I was told that if I have account also in Euro in Poland I could take this bank draft to Poland and use it over there.

So you think they could just reopen my closed bank account and put money back ?

Another question. Is it possible to go to bank with somebody else and put this bank draft which is on mine name to somebody else account? Or I have to put it only to account on mine name?

Thank you

Bank draft

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