Getting a cheque from Ulster Bank made payable to An Post.

I was in an Ulster Branch this morning and the cashier refused to let someone draw money from their account in the form of a cheque made payable to a financial institution.

Is this really the case or was it another Ulster Bank staff member making up the rules as she went along?

Doubt ub would issue a single cheque but I'm sure they would gladly
give u a bank draft.

I don't know why they have this policy, but it's been reported by other posters a long time ago, so it's not just you!
There's potentially an anti-money laundering aspect to it.

https://www.askaboutmoney.com/threads/ulster-bank-draft.106249/

RedOnion said:

There's potentially an anti-money laundering aspect to it.

Click to expand...

I don't see why? If they accepted the credit from you in the first instance then that was the time to query re anti money laundering, not when you are making the withdrawal.

It's a security issue, if you get a cheque payable to a financial institution and lose it in the street it would be too easy for someone else to lodge it in the financial institution to any account. Drafts must be payable to someone or a particular named entity or business.