Cheapest way to pay US dollar cheque into UK acc.

Mikhail

Deposit to PayPal US (as they accept electronically submitted cheques); send money to PayPal UK and then to your bank account.

Or open Citibank USD deposit account.

It is worth the hassle?

Mikhail

Naresh wrote: »

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.


Kind Regards
Naresh

how do you know that?

Naresh

Mikhail wrote: »

how do you know that?

I sent Citi a message enquiring about charges / fees to be introduced to my account from Sept 2011 and this is the reply that I received. I have since sent Citi another message asking about relationship charges to my account as they did not answer that part of my question.

I shall be closing my Citi USD account and looking for another soon. Please can anyone help with an account that does not charge for depositing small, approx $20 USD cheques, approx 4 times a year into a USD account.


"Date:29/06/2011
Reference:XXXXXXX
Dear Mr xxxxxxxx,

Your understanding is correct, there will be a charge of £5 for any cheque deposited from the month of September 2011 apart from a sterling cheque.

Thank you for your message.

If you have any further queries, feel free to send us a message online or call us on the contact numbers mentioned below.

Yours sincerely,

Craig Williams
Citibank Services
_____________________________
0800 00 55 00* (if calling from within UK)
+44 207 500 55 00* (if calling from abroad)

* Calls may be recorded or monitored for training and service quality purposes. Calls to 0800 numbers are free from a UK landline, mobile costs may vary."

Naresh

Mikhail wrote: »

Deposit to PayPal US (as they accept electronically submitted cheques); send money to PayPal UK and then to your bank account.

Or open Citibank USD deposit account.

It is worth the hassle?

Sounds interseting, I will try it, if I can get through their Account setup security as PayPal only allow one personal account and have to link it to a bank account otherwise the restrictions make it unuseable. I know this as I tried to setup another PayPal UK account and they wanted Driving License, utility bill, bank account statements and more and still they restrict the account to a degree that I can not use it and they will not close it until I have sent them more info !!!!!!.

I suggested a DNA sample so that they could verify my identity and still no joy.:mad:

I have a UK PayPal personal account.

I read about the electronic scanning of a notorised cheque and submitting it to PayPal but could not find the option on PayPal UK. So, it may be just on the US version of PayPal, in the form of mobile payments. I would have loved this functionality on PayPal UK as it would save me going to a branch of citi in the west end of London or risk posting it to them.

I need a way to deposit small USD cheques (approx $20), quarterly in the UK, without incurring any charges that would wipe out the amount being deposited.

Kind Regards
Naresh

Naresh

Tried to setup a PayPal US account but fell at the first hurdle.
Valid Zip Code (tempted to use 90210).
I am sure there are more that I will not be able to complete.



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jmarko

This is a right PITA! Just about to start receiving dollar cheques in denominations of about $100 a time and had set up a citibank account especially.

Are there any alternatives?

Naresh

In the US you can sign the back of the USD cheque and it is treated as cash (if I am not mistaken).
Can anyone suggest if there is any such mechanism in the UK or anywhere I can take my small USD cheques (up to $25 signed on the back, approx 4 times a year) for deposit or exchange without incurring any fees ?

losthour

I can't seem to find any charges from halifax for depositing a US Dollar cheque? Can anyone else confirm this?

xiox

I don't think Halifax are charge free. They were going to charge me when I tried to deposit a US cheque a year ago. Before their terms and conditions they say "If you need to pay foreign currency or cheques into your account, that's easy too. Just bring them into any branch and we'll explain everything you need to know, including the fees for doing this". It also says in the terms and conditions that some transactions are not covered by this agreement, such as international payments.

CeeOtter

When I tried to deposit a US cheque for $50 into the Halifax last year I was shocked by how much it was going to cost. I then discovered Auctionchex and think they have a great service. It costs under £2 to send in your US$ cheque and Auctionchex send you the £ equivalent in cheque form, within a week usually. :j