# bank draft question



## blueband (28 Nov 2012)

im closeing my bank account and was hoping to get my savings in cash, turns out the bank in question will only pay out by draft, no cash! 
is there somewhere i can get this cashed without opening another bank account? its a reasonably large sum i guess. 
thanks for any advise.


----------



## JAM3114 (28 Nov 2012)

Generally bank drafts are crossed a/c payee only or non negotiable so they can only be 'cashed' through an account in your own name.  Also bank drafts have to go for clearing like cheques usually.  

Can you not withdraw any of your balance in cash ?? Or is it outside their cash withdrawal limits??  Could you withdraw in smaller cash amounts or when you close the account will they still make you take a smaller balance in a draft?  Seems a bit unfair.  Just wondering why they will only allow draft withdrawal & not allow you to pre order cash in advance??


----------



## Eithneangela (28 Nov 2012)

Have you an online capability to transfer your money from this bank to another account elsewhere - even if there are limits (UB is €13,000) for any transfer, there is no limit on the number of transfers. Don't know how to help if you're trying to get all out in cash - maybe ask Bertie (sorry for being facetious!)


----------



## blueband (29 Nov 2012)

yeah according to the bank in question 'AIB' they only issue a bank draft if you are closeing an account, dont deal in cash at all!...strange for a bank.  if it comes to it i can open an account with another bank and try to cash the draft that way, i was just hopeing to avoid the bother.   i might have to ask bertie as a last resort!!


----------



## Mizen Head (29 Nov 2012)

Why not leave a euro in it and close it after you have got cash for the balance


----------



## mathepac (29 Nov 2012)

or open an ordinary Post Office savings account (the old-fashioned one with the book) and lodge it there. Or a credit Union account if you want to avoid banks altogether.


----------



## blueband (30 Nov 2012)

well its not really about avoiding banks, its just trying to get my hands on some cash i need soon.


----------



## Palerider (30 Nov 2012)

Take the advice provided by Mizen Head, you will probably have to provide the bank with up to 24 hours notice if it is a large sum, check first.


----------



## blueband (1 Dec 2012)

thanks i will give that a try and see how it goes.


----------

