Cheapest way to pay US dollar cheque into UK acc.

inmypocketnottheirs

dazzalad wrote: »

wat would happen if ya put a cheque ib for $1.5M in to a UK account?

ya cud neegoshiate a speshul rayte probberleigh.

Lansdowne

Oh lovely. A five year old thread resurrected. I think that may be a record.

inmypocketnottheirs

Lansdowne wrote: »

Oh lovely. A five year old thread resurrected. I think that may be a record.

I think that is admirable. At least the poster above has done some research first!

dazl20

I have a cheque for a few $1000 and wish to cash only a portion into £'s and take the rest in $ for a holiday coming up anyone know if you can do this or would we need to cash into £'s then transfer back to $

cheshirekat_2

Is there any more up to date information about this? Is Barclays still the only bank who will deposit these without any charge? I couldn't possibly open a Citibank account as I don't have any spare cash with which to open a new account. Has anyone out there banked a dollar cheque recently?

Smit1970

I have used the service offered by auctionchex.com several times; again today.

Of course, the exchange rates are not the greatest, but I have found it to be the most efficient way to deal with US$ cheques of no more than a few hundred dollars at a time.

D1zzy

inmypocketnottheirs wrote: »

I think that is admirable. At least the poster above has done some research first!

..and exactly what I wanted having just received a $ cheque this morning ( despite requesting payment in GBP). Dont mind the bank charge as its a one off - but having waited 3 months for the cheque, I wasn't anticipating months of waiting 'til the money is available - Is that really the case?

D1zzy

Opening a citibank current account maybe even the easiest option :-
Depositing cheques1 drawn on foreign banks and in foreign currencies

Foreign currency cheques or cheques drawn outside the UK have a longer clearance time and will require an endorsing signature of the payee on the reverse of the cheque.
Cheques drawn in the USA and EU will normally be credited to your account immediately. Credit is given on a recourse basis, as the cheque may still be returned unpaid at a later date2.
Some high value foreign cheques and cheques from certain countries will not be credited to your account immediately, but sent on collection3. Your account will be credited once the funds have been received from the paying bank and charges may be made by the paying bank. Please note that clearing times and charges for cheques and bank drafts may vary depending on the currency, country or bank upon which the cheque or bank draft has been drawn. For specific information in relation to your transaction, please call CitiPhone Banking.

xiox

I'm going to resurrect this thread even more and say that it's actually free to cash US dollar cheques in a citibank pound sterling savings account - I opened a flexible saver. They even seemed to give me a good conversion rate!

[Deleted User]

xiox wrote: »

I'm going to resurrect this thread even more and say that it's actually free to cash US dollar cheques in a citibank pound sterling savings account - I opened a flexible saver. They even seemed to give me a good conversion rate!

conversion rate is excellent with citibank