The first thing I want to blog about is why it takes so long to clear cheques through banks.
We're told it takes 5 days so if we lodge clients cheque we can't draw on it until its cleared into our account.Why can some countries clear cheques electronically in the same day.Is it another case of no money being spent on the back office workings while the front office worked on lending to everybody? I understand one day alone the bank get the value for overnight interest.
Anyone have ideas on this?
About Me
- Michael Monahan BA Solicitor
- Sligo, Co.Sligo, Ireland
- Michael Monahan is the principal of the firm. He covers all aspects of the Law. Graduated with B.A. in Economics and Politics U.C.D. In practise for 24 years in both Dublin and Sligo. He is an authorized Commissioner for Oaths for Swearing of Documents. Michael has a Diploma in Wills and Estate Management with the Society of Trust and Estate Practitioners and has completed a Diploma in Commercial Law with the Law Society of Ireland. Is a qualified NLP practitioner and Career Coach.
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