Mr Wishbone received a cheque from someone which he proceeded to lodge to AIB. About a week or so later he got a letter from AIB saying the cheque writer had insufficient funds and so the cheque had bounced. We were then charged over 4e for this!! Now how does this work?? I know we once wrote a cheque and didn't have enough money to meet it, AIB allowed us to go into the red and then charged us for it - so I can understand that one, but this charging us because someone else didn't have enough funds seems just a little bit cheeky!! We lodged the cheque in good faith....Thoughts??
It is hardly AIB's fault that you lodged a dodgy cheque. There is a huge amount of work for banks in handling cheques. It's even greater with bounced cheques. At €4, they are not nearly recovering the costs involved.
happened husband while back with BOI, €3.60 think it was, as Brendan said go back to the writer of the cheque, which he did and sorted out quickly as work related.
Have heard of this happening with wedding presents, cheques bouncing, puts one in a very difficult position,...
2 tips:
1. Make sure you are familiar with your bank's terms and conditions (i.e. charges)
2. Avoid cheques if at all possible, ask to be paid electronically. Once an electronic credit transfer is received it cannot 'bounce' and it generally cost less (for both payer and beneficiary)