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From the 26th August 2013 all cheques drawn on Banks outside the Republic of Ireland (excluding Sterling, Euro and US Dollar cheques drawn on UK Banks) will be sent for Special Collection to the Bank on which are drawn.

An existing transaction charge will apply as follows: A charge of €8.50 per cheque payable on acceptance by the Bank of each cheque. In addition, there will be charges levied by the financial institution on which the respective cheque is drawn. The charges levied by the financial institution on which the cheque is drawn will be deducted from the funds on lodgement.

Cheques sent for special collection are not lodged to the payee’s account until cleared funds are received by permanent tsb and if not in Euro, an exchange rate will be applied to the transaction at the rate applicable on the day on which the cleared funds are lodged to the payee’s permanent tsb account.

From 26th August 2013, Traveller Cheques presented for payment will be processed for permanent tsb customers only.

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