# Bank Cheque Withdrawal



## pudds (16 Nov 2009)

Hi guys, last time I wanted to make a cheque withdrawal from Ulster Bank they kinda forced a bank draught on me which costs  about €3 but can I insist on a cheque withdrawal this time and is there a charge for this.


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## Lightning (16 Nov 2009)

Why not do a wire electronic transfer? 

Is this from an Ulster Bank savings account? 

Can you wire the money to your current account?


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## pudds (17 Nov 2009)

fungus said:


> Why not do a wire electronic transfer?
> 
> Is this from an Ulster Bank savings account?
> 
> Can you wire the money to your current account?



Its 5k I have in Ulster Banks eSavings a/c and want to put it in to a Savings Bond with AnPost, and would prefer a cheque from UB  but if they won't oblige think I'll take the cash and bring it to the .P.O.


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## pjmn (17 Nov 2009)

I think you are confused - a draft is a cheque drawn on a bank.  As I see it you have three options....

a) withdraw cash (dangerous in todays world)
b) obtain a draft payable either to yourself or An Post
c) obtain details from An Post (if they will provide same - I'm not sure on this one) of an account that your bank could credit automatically via eft.

If it were me - I'd take the draft...


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## pudds (17 Nov 2009)

I know a bank draft is a guaranteed cheque, but there expensive. €2.50 I think, plain chq would do me but ain't on it seems (greedy banks again)

I asked Post office if any way I could transfer money over to pay for bond but sadly no way, cash or cheque. 


I could xfer money to EBS first and they would give me a cheque no bother but why should I have to bother and takes too long.


I bank with UB and are they not obliged to give me  a plain cheque withdrawal on this rare occassion.


I know I know, damm banks


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## pjmn (17 Nov 2009)

Fair enough...

May be another way to look at this situation ...

a) You can take out cash at no cost (but run the safety/security risk of getting bumped on the head as you walk down the street) - is it worth E2.50 to protect that risk?

b) I know they are charging you a flat charge  - but just to do the sums on this transaction E2.50 represents 0.05% of the amount you are withdrawing - again hardly worth losing too much sleep over.

c) I have no idea what the Savings Bonds pay at the moment (no savings I'm afraid) - but assuming they pay say 3% - that would work out at 41c per day - so if you delay for a week (assuming you are earning little or nothing in your current deposit account) you'll have lost more than E2.50.

I think only you can decide if the safety element is worth the E2.50 - if not take the cash.................. and run.

Best wishes...


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## Mpsox (18 Nov 2009)

pudds said:


> I know a bank draft is a guaranteed cheque, but there expensive. €2.50 I think, plain chq would do me but ain't on it seems (greedy banks again)
> 
> I asked Post office if any way I could transfer money over to pay for bond but sadly no way, cash or cheque.
> 
> ...


 
EBS might give you a cheque but it'll be drawn on an Ulster Bank account (since they are not members of the interbank cheque clearing system, they use accounts drawn in UB for these purposes) and therefore it could take longer to clear

UB are giving you a cheque, it's called a draft.


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## robinvn (18 Nov 2009)

I had the same problem last week and got a bank draft in the end. It cost me €1.90 at AIB, but it was free for students, they said.


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## pudds (18 Nov 2009)

thanks guys good to hear ur views, pjmn interesting points there


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