Whether the accounts are personal or business will have no bearing on the clearing cycle.
pjmn
You also have to keep in mind that a cheque can still bounce, after being cleared!
Don't you mean bounced having been allowed draw down against the lodged cheque? I have no idea what way accounts are flagged but AIB will allow me draw on a lodged cheque after close of business on the day I lodge - doesn't mean the cheque won't subsequently bounce though !
Ok so based on pjmn and Mpsox versus my personal experience of business banking in Ireland I need to go see my bank manager immediately! Thanks for info guys and apologies for the disagreement with your post pjmn but i've been banking with my current branch for 14 years and have never had a straight forward clearing time for certain customers!
Mr Blues - no apology needed - but if someone has been telling you it takes 14 days to clear a cheque (apart from foreign cheques, which do seem to be a law unto themselves), then I'm afraid they are telling you porkies...
The clearing system isn't capable of differentiating between personal and business customers, hence why the cycle is exactly the same for both.
Best wishes for both your meeting and for 2010...
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