Hey all,
I was wondering how long it normally takes a BOI cheque to clear in a BOI account?
Also, how long it would take a BOI cheque to clear in a UB account?
Thanks,
Mal
How longs a piece of string?
It depends on the type of account you have, i get paid by cheque every month and it takes the cheque 5 working days to clear due to the current account i have. The Halifax have told me i can upgrade the account and my cheque will clear in 2-3 days but i couldn't be bothered changing all my direct debits across so just left it
If i would have put a boi cheque into my boi acc i would have had access to it the next day - if it was a ub or ft cheque for example i would have had access to it 2 days later. I always found boi very quick at clearing them.
Should be three days to clear and 5-7 if its sterling cheque to euro account or vice versa.
You should cheque it out with the bank, they should be able to give you a definitive answer.
Depends on Bank. A cheque going into the same bank should technically clear instantly. Up to 3 working days for Northern Ireland Cheques to clear in a different bank and Up to 10 days for an English cheque to clear in a Northern Ireland Bank Account.
All these things depend on the amount of money in the Account though. If you lodge a BOI cheque into a BOI account it should technically clear instantly but if the Account the cheque is drawn on has no money in it, the other person will be allowed 3 days to get money in the account before it bounces!
The fcukers usually clear it in a matter of minutes, as all banking is done through a central agency in Belgium (I believe) but have us believe it takes days...why? Because they are making interest on it. I was looking into cyberterrorism and its effect on Critical Infrastructure and discovered this.
Fcukers...aren't robbed half enough.
Yes, they can clear them in minutes by scanning the cheque into their system. They delay it to make interest which brings them in millions each year.
How does this work though if the person writing the cheque doesnt have funds in their account at the time of writing? I regularly write cheques out of my account knowing their wont be any money in to cover them for the next 2 days or so. Never had any problems before - as when they go to clear the money is in my account
I sometimes send money from one account to another by sending the bank at home a cheque and getting them to lodge it.
the money will appear in the account based at home in a couple of days but the money will still be in the account here....
Worked in the Ulster Bank at one time. Ulster Bank cheques being lodged into an Ulster Bank Account cleared/bounced instantaneously. Say it would be the same for BoI.