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Breathnach Let's say I go to my bank and seek to cash a cheque drawn by unclebill on some other branch.
The teller can run some checks, determine that all looks okay, and give me cash. The cheque goes into clearing. But there are other cheques drawn by unclebill in clearing, and when my cheque arrives at unclebill's branch the situation has changed and his account has insufficient funds.
So the cheque is dishonoured they won't allow an overdraft because they don't really know unclebill well. In the good old days, when banks actually had personal relationships with customers, my branch could contact me and arrange to recover the money from me and, being an honourable person, I would have have paid it.
The changes over the past few years in bank culture mean that nobody in my local branch knows me personally, or that I am an honourable and solvent individual, and so they are unlikely to risk cashing a cheque for me. That is why a check is done on cleared funds.
If a chq is cashed its impact on the account is instant, it will show up on the systems in other branches that something has been debited from the account, hence why its cashed against cleared funds only. There are issues to what these db's may be as a overnight is needed to narrate the account correctly so some tellers may ring to clarify the situation etc.
The Clearing process has no bearing on it.
Thats why its important for the teller cashing the chq that the funds are there, cleared and ready to go. I still think the ability to cash a chq in another branch is a simple process given todays tech.
Agree with the personal touch these days but given the nature of banking its not going to change.Apr 02, · and, on bank of ireland and aib personal cheques which both lack the prepreprinted "Pay to the order of" a number "one hundred and" could easily be inserted after the recipients name.
In conclusion, using double horizontal lines is the perfect solution, thanks. Chapter FOREIGN CHECKS AND CURRENCY DRAWN ON FOREIGN BANKS. Foreign Check—A check, money order, or bank draft drawn on a foreign bank (i.e., foreign checks in foreign currency; Bank Of Ireland.
Lloyds TSB Bank plc. Bank Of Montreal. Mellon Bank NA. Bank Of Montreal Europe LTD. However, since the 19th century, the spelling cheque (from the French word chèque) has become standard for the financial instrument in the Commonwealth and Ireland, while check is used only for other meanings, thus distinguishing the two definitions in writing.
In American English, the . This IBAN Checker can check the format of an IBAN (International Bank Account Number) that originates from a member or joining country of the EU or the EEA, plus Switzerland and other countries that have adopted the use of IBAN.A full list of countries is located further down the page.
Please note the IBAN Checker: cannot be used to guarantee that an account exists, or that the IBAN belongs to. Your credit rating may be poor if you missed repayments on a regular basis or failed to pay off a loan in the past. Most lenders in Ireland send information about borrowers and their repayments to a central agency, the Irish Credit Bureau (ICB).
Is my lender allowed to check my credit history?
Oct 17, · How to Write a Check. In this Article: Article Summary Annotated Check Writing a Check Community Q&A Writing checks is an easy and important skill every adult should know.
To write a check, fill in the current date on the line in the upper right corner, the name of the recipient in the "Pay" field, the numerical amount next to the dollar sign ($), and the written form of the same amount on the 89%().