Remember that when I first joined the Bank!!! manager was God and never had to do any real work. Always aspired to have that job. Unfortunately the times changed and bank managers are now thrown out of paradise and are mere cannon fodder for disgruntled clients to feed onMr MacMahon or Manager (even by the staff),
In the two cases you mentioned the bank were at fault and not just for bounding cheques. Can you show me a case where they bounced a cheque where the bank is not in any way at fault and there is no money in the account to meet it.
Years ago when I worked in the bank there was a facility to allow funds in savings to cover cheques that would not be covered by available funds in the current account - I think we called it a set-off? But way back then banking was a profession, and not an industry, and the bank manager was called Mr MacMahon or Manager (even by the staff), and he made the call on whether or not the cheque would be honoured if it was above a certain amount. . Different times, and different procedures now, there will be very few cheques written in the next few years, especially when it costs €1.30 to write one @ BOI....
Not relevant to the decision as the accounts were not amalgamated for "offset" purposes. All accounts are treated as "stand-alone" unless the client has a specific agreement with the bank!The question for me is how much in to her overdraft was she in the current account with the €50k facility when the cheque was presented on the second current account.
Not relevant to the decision as the accounts were not amalgamated for "offset" purposes. All accounts are treated as "stand-alone" unless the client has a specific agreement with the bank!
Not relevant to the decision as the accounts were not amalgamated for "offset" purposes. All accounts are treated as "stand-alone" unless the client has a specific agreement with the bank!
The Op's colleague has 4 accounts, 2 savings and 2 current accounts, one of which has a €50k od facility. I'd be interested to know what the net overall position was across all accounts when the cheque was presented. I would be astounded if the net position was €18,000cr across all accounts and the cheque was then bounced when presented ! The question for me is how much in to her overdraft was she in the current account with the €50k facility when the cheque was presented on the second current account.
There was credit of about €24K in the entire batch with NIL of the o/d facility drawn down.
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