Permanent TSB - 5 days to clear cheques & Lodgement giros from another bank.

M

maura

Registered User
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I know PTSB have a 5 working day rule to clearing cheques, but why does it take 5 working days to clear a lodgement that was paid in cash at an AIB bank using the ptsb lodgement book? If anyone knows could they enlighten me.

Thanks
 
Its just their policy which is a good reason not to use them. I think that their systems are still based in the 1980's.
 
Thanks bond 007, I have just switched to them from BOI due to excessive fees there. I thought ptsb would be my panacea, I should have read the fine print.
 
I am thinking of moving to Permament TSB and am paid by my employer using PAY PATH, I'm not sure what bank my employer has the account with, but if I move to PTSB will it hit my account on the day that I get paid? Or would I have to wait 5 days? Sorry if this is a stupid question
 
No I am with PTSB and I get paid same day as eveyone else (direct bank transfer) - delay seems to be only with lodged cheques
 
but why does it take 5 working days to clear a lodgement that was paid in cash at an AIB bank using the ptsb lodgement book?
Click to expand...

can you lodge money to PTSB in an AIB branch??? and if you can them presumably this is where the delay is, as AIB is a different bank to PTSB so surely it would take slightly longer to transfer from AIB to a PTSB account... still odd though that you can lodge to PTSB Via AIB, they are totally seperate banks........!!!!
 
When do you get value ? Clearers should be able to give value after three days
 
There was a mix up when I moved current accounts this month and resulted in me being paid by cheque rather than DD because the DD bounced - HR has the wrong account number.

PTSB were able to clear this cheque for me immediately as a salary. So it is at their discretion I imagine. I told them I needed it for outgoing SOs & DDs.
 
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