Are cheques legal tender in Ireland?
Some AIB customers who contacted The Irish Times questioned the bank’s policy in refusing to allow them use their old chequebooks to make payments, arguing that the Irish currency remains legal tender until February 9th. But a cheque does not carry the same status as cash and is not considered to be legal tender.
How long does Bank of Ireland cheque take to clear?
It takes up to 5 business days for cheques drawn on Irish banks (domestic cheques) and up to 4 weeks for cheques drawn on a foreign bank (foreign cheques) to clear, even if the value of the cheque appears on your account immediately (e.g. statement/eStatement/online account details/balance given at an ATM).
Why does a cheque take 5 days to clear?
Sir, – Mr. Gerry Gunnigan asks (October 24th) why it takes up to five days for a cheque to clear. The basic answer is that, being a paper-based payment system, it can, in certain circumstances, take that length of time to establish that there are sufficient funds in an account to meet the cheque.
How much does it cost to lodge a cheque in Bank of Ireland?
Cheque Books Ordinary 20c per cheque (i.e. €10 per chequebook of 50 cheques) Cheque- book Issuing Charge. This is in addition to Government Stamp Duty. Please note that the commission charge is in addition to the account transaction fee.
Can cash be refused in Ireland?
It’s legal tender. Businesses, such as shops and restaurants, cannot refuse cash, unless both they and the customer have already agreed on another way of paying.
How long can you wait to cash a cheque Ireland?
Do cheques go out of date? It is the practice of banks in the Republic of Ireland to decline cheques which are presented for payment six months or later than the date the cheque is written.
What time are checks cleared?
Most checks take two business days to clear. Checks may take longer to clear based on the amount of the check, your relationship with the bank, or if it’s not a regular deposit. A receipt from the teller or ATM tells you when the funds become available.
How can I avoid BOI fees?
Monthly fee As with Bank of Ireland there are exemptions, and those aged 66 and over, as well as students and young savers will not be hit with the charges. In addition, if you have an AIB mortgage on your home with the bank you will continue to avoid these fees.
What is legal tender Ireland?
Irish collector coins are only legal tender in Ireland.
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