I am lodging a bank draft to my bank account and i was wondering is it treated the same as a cheque, will it take a number of days to clear even though a draft and a cheque are different
As far as I know - yes. I lodged an EBS draft to my AIB account last year and AIB told me that I couldn't draw the funds for, I think, three working days. I wonder if I would have had the same problem, had it been an AIB draft. Maybe someone else has the answer.
I lodged an BOI Bank draft to my brother's account with the TSB. They said that he could withdraw the funds in cash from his branch same day as it was a bank draft.