Cheapest way to pay US dollar cheque into UK acc.

xiox

CeeOtter wrote: »

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

Are you sure that you don't work for them? They had a terrible exchange rate the last time I looked. They may be cheapest for low value cheques, however.

auctionchex

xiox wrote: »

Are you sure that you don't work for them? They had a terrible exchange rate the last time I looked. They may be cheapest for low value cheques, however.

I can confirm a few things here

Its a nice sunny day here in sunny Southport

CeeOtter does not work for AuctionChex

Citibank do now indeed charge £5.00 for a deposit of a foreign cheque

Woraz

is this normal ? i put a cheque in Lloyds tsb 15 days ago still no money in my bank . how long it takes to clear ? (cheque was in dollars)

efundz1

Some banks do take a while to clear foreign checks, and with the recent holidays, some of the banking week was reduced to 3 banking days lengthening the time for clearance

Robsia

Naresh wrote: »

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."

I have the same issue - I will soon be receiving USD cheques from Amazon. But I looked at Citibank's T&Cs (dated December 2011) and it seems to say that US cheques are free into any account, EU cheques are free into an EU account but other foreign currencies incur the charge. I'm confused. See page 8 - about halfway down. What do you make of it? It seems to conflict with itself.

BTW - I'm not allowed to post links as a new user so you'll have to use your brains to decipher the following.

w w w citibank.co.uk/personal/banking/customerinfo/otherinformation/documentlibrary/allrates.pdf?merchant=citi

RichieWu

losthour wrote: »

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

Did they charge you in the end? I have an 'Ultimate Reward Current Account' and I am being sent a $25,000 Cheque I will need to pay in. Any advice would be great! Cheers

PeteW

Anybody have any updates on this? Auctionchex seems to have really crap rates now (about 10% higher than xe.com). Anyone know what the situation with Citilink is now or if there are any better options? I'd be depositting 1 cheque a month for around $500.

Thanks

Pete

choppedminx

I also will be receiving US dollar cheques(checks) very shortly, I phoned Nationwide who told me there would be no charge to deposit into a Flexaccount.
I visited a Nationwide branch today to confirm this to be told there will be a charge of £6.50 if it is a certain type of cheque, or £20 if a different type??
I also contacted LloydsTSB who inform me they charge 25p per £100 with a £8 minimum!
I will be receiving cheques monthly as from the end of this month, so would be grateful for any further info on this matter.

PeteW

Just spoke to First Direct, their fees are:



upto £250.00 in sterling value: flat fee £7.00
over £250.00 sterling value: 0.5% (min £10.00, max £50.00)
euro denominated cheques drawn outside the UK: flat fee of £7.00
euro denominated cheques drawn within the UK: flat fee of £1.00.

PeteW

Asked Nationwide and they said the fee would be £6.50, or £20 for "higher value cheques" - but they couldn't tell me what the cut of point between the two was, "for security"! So I've no idea if they think $100 is high value, or $100,000… idiots!

Update: They've since told me that a $1000 cheque would have a fee of £6.50, so the limit must be over that.