banks & clearing cheques

M

momoney

Guest
My bank is pernament TSB and I am self employed/self assesment. My Question is simple have any of you self employed people got your bank to dismiss this 5 day working day period to clear cheques....God know it goes out of my account quick enough when I write a cheque...And the cheques each month are mostly from the same clients.
Finally who do you think is the best bank for someone like myself
Oh and finally I got paid recently paid electronically and it took 3 working days to get to my account.....
 
momeny

I used to do my business banking with Permo TSB and moved to Bank of Ireland. the main reason was Permo TSB do not have online business banking and I found it a pain having to queue at a branch each time I had a query on my account

C
 
The whole clearing business is a joke if you ask me particularly given advances in technology - it's all about charging a/c holders uncleared interest when the opportunity arises . I recently drew a cheque on a BOI current a/c and lodged it in my Perm/tsb current a/c. The following day the BOI cheque was debited to my a/c but a further three days later it still hadn't appeared as a credit in Per/TSB.
Had I drawn a cheque on my tsb a/c they would have honoured it and charged me uncleared balance interest while they waited for 5 working days for the BOI one to clear even though it had already been paid out of my BOI a/c.
 
i dont know how or why but i have been able to withdraw money instantly when i lodge a cheque to my aib current account for many years now. even the tellers in the bank are sometimes surprised by this.
 
As far as I know, BOI will give you same day value for your cheques subject to them clearing down the line...
 
I Have Been The Same Anytime I Lodge A Chq Into My Aib Current Account I Can Go Straight To The Atm And Take The Cash Out Straight Away.
 
Hold on !!

Most banks should at this stage 'clear' their own cheques for same day value. That is not rocket science, just taken some of them years to do it.

The so called '5 day clearing' is a joke for this reason. First you get 'value' the next working day..but then given that it is not 'cleared' for use for 5 days, then this is only of benefit if you have the item in an account that pays interest or you are being charged interest.

This could be changed to make everything 'next day' by making it a criminal offence to issue a cheque where there are no funds; and by not allowing people to stop cheques unless lost or stolen.

By far the worst hoors on this are PTSB as it is well known that as little as 0.5% of cheques bounce. Ask yourself this ..when did you get a bouncer yourself and when did one of your cheques bounce. The banks simply ignore your track record whilst at same time electrify us with this 'customer focus' tripe.

So where is IFSRA on this?
Where are the dozy financial journalists who lift stuff off this site regularly?
Where is the Department of Finance on this?

Nowhere because none of them understand the smoke and mirrors cleverly positioned by the Banks!
 
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