American "Check"

helenjones833

Morning all,

A relative of mine in the U.S. has recently sent me a check for USD 160. I'm wondering what the best way to get the money is, losing the least amount of money in the transaction. I have a current account with Barclays but I suspect they will fleece me!

The check is from the Citizen's Financial Group of Rhode Island, which is a subsidiary of RBS, if that makes any difference.

Thanks.

Kavanne

nah, RBS operate completely separate in the US and UK. They will fleece you as much as any other UK bank even though they are linked. What are the charges by Barclays?

helenjones833

I haven't asked them yet. I just wondered if there's any easy way to get the money without paying it directly into my own bank account.

**jess**

charges at barclays i believe are 0.25% of what the cheque is or a maximum of £10. however if its a large cheque or the first time youve paid a foreign cheque into your account it can take upto 6 weeks to go in. this is a very maximum though... id say 70% of the time its in within 5 days

simongregson

As it is a relative, could you destroy the cheque and ask them to send you the money by Paypal instead, it would be much cheaper!

Andy_Ches

**jess** wrote: »

charges at barclays i believe are 0.25% of what the cheque is or a maximum of £10. however if its a large cheque or the first time youve paid a foreign cheque into your account it can take upto 6 weeks to go in. this is a very maximum though... id say 70% of the time its in within 5 days

I very much doubt the cheque will be cashed and paid within 5 days, usually around 3 weeks ive seen.

Extant

Andy_Ches wrote: »

I very much doubt the cheque will be cashed and paid within 5 days, usually around 3 weeks ive seen.

A cheque paid in to a Barclays account on collection (returned to the original bank for payment before funds are credited) would probably take around that time.

A cheque sent by negotiation - where the bank credits you before the funds have been received from the drawing bank - would be credited to your account within five working days.

Andy_Ches

BarclaysManager wrote: »

A cheque paid in to a Barclays account on collection (returned to the original bank for payment before funds are credited) would probably take around that time.

A cheque sent by negotiation - where the bank credits you before the funds have been received from the drawing bank - would be credited to your account within five working days.

Collection is what I was referring to.

dzug1

http://auctionchex.com/ is worth a try