Bank Draft Query

Kimlock

Hi

I have recently been given a bank draft from the AIB bank in Ireland.
The draft is in sterling and has been made out to me.

I hope to be able to get into Barclays to lodge it this weekend but I have some queries about how long it should take to clear.

The AIB say it should be instant, Barclays livechat has said 5 days and Barclays phone helpline has said 7 weeks.

I just wondered if anyone has had any experience of this and how long it should take?

Thanks in advance!

JuicyJesus

It will clear in the same timescales as any other cheque - IF it goes through the UK clearing.

However - as it is an Irish bank draft, it will most likely need to be sent off for processing. This can cost around £30 and does take around 7 weeks, possibly longer as it involves physically remitting the cheque around.

Unfortunately foreign cheques are very costly and slow to deposit. It is ALWAYS better to try to secure an electronic payment.

The one thing I can say is that AIB are talking out their 'arris.

Kimlock

Thanks, i was afraid this might be the case!

jonesMUFCforever

OP Is the cheque drawn on a UK clearing bank?
If so then it will be the 2-4-6 clearing cycle.

It would be unlikely that the AIB issued a cheque in sterling on an Eire bank - but if this is the case it could take weeks for you to get the money.

soulsaver

AIB (GB) is a UK bank, subsidiary of AIB(IE).
If drawn on the former, should be as any other UK bank cheque.
If the latter.. maybe a longer delay.