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

M

maura

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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 :confused:
 
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???:confused: 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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