Cheapest way to pay US dollar cheque into UK acc.

nandrews

It seems that saver account requires a current account set-up beforehand and that inturn requires £20k salery.
So I am looking around again.

Nigel

powerone

Lsat time I spoke to citibank they werent too concerned with a Salary as such. You might not be able to get a cheque book in Sterling with less than £2k going through the account though. Open either a Euro or dollar account then apply for a £ account online once things are working okay, ie you have online access.

efundz1

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!

Yes I have been looking around and their rate seems as close to the spot forex rates on xe.com, however can you say how long it took to have your check clear?

thanks

mico62

After finding this thread I'm just looking at opening a citibank account to pay in my child support collected by the american equivalent of the CSA.

I've read the small print and it says cheques must be crossed and/or have a/c payee on them if you're sending them by post. the cheque's got my name and address on it, do you think they'll accept it?

My only other option is to pay it into my current account but that'll cost me £10pw out of what's already a pittance.

xiox

efundz1 wrote: »

Yes I have been looking around and their rate seems as close to the spot forex rates on xe.com, however can you say how long it took to have your check clear?

thanks

Sorry for the delay in replying. It was deposited 25th Feb, cleared on 16th March, so it's not very fast.

xiox

mico62 wrote: »

After finding this thread I'm just looking at opening a citibank account to pay in my child support collected by the american equivalent of the CSA.

I've read the small print and it says cheques must be crossed and/or have a/c payee on them if you're sending them by post. the cheque's got my name and address on it, do you think they'll accept it?

Are you sure? Maybe you should ring them. Their website says the cheque should be endorsed by you before sending: http://www.citibank.co.uk/personal/banking/customerinfo/usingyouraccount/movingmoney/deposits.htm?merchant=citi#2

mico62

Thanks xiox, I've just applied for an account

xiox

nandrews wrote: »

It seems that saver account requires a current account set-up beforehand and that inturn requires £20k salery.
So I am looking around again.

Nigel

I didn't need a citibank current account - I just have a normal current account. I can't remember any salary questions on application, but I'm not sure

mico62

I applied and have been accepted for a flexible saver account earlier today and didn't need to open a current account, there were questions about employment and salary.

Naresh

Hi,

From Sept 2011, Citi will be charging £5 for every non Sterling cheque deposited.

Possible relationship charge, but this has not been confirmed yet.

Does anyone know of any other Banks or ways to deposit small US Dollar cheques into a US Dollar account without incurring any charges or fees ?

Kind Regards
Naresh