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Paying in a Euro Cheque
dexter_fan
Posts: 136 Forumite
Hi All
I would appreciate some help, so will try to keep this simple!
We have received a Spanish Bankers Draft in euros, and are trying to find the best way of cashing it (getting the best exchange rate).
We bank with Halifax, so called up Halifax Hispania. They advised that we could open an account,pay the draft in and then we could withdraw the money and close the account. Our aim was to transfer the money to a Money Exchange company and get the better rate. We were sent all the forms, filled them in and went to our branch for the ID verification two weeks ago. We were told that we needed to speak to an advisor, no one was available so we booked in with another branch later that day. Went to the second branch, they had no idea what to do and said could they phone us on MOnday? No phone call so went back to my local branch who said they could confirm the ID there. Had to go back Tuesday with husband and ID and paid in the cheque. Hooray. Banco Hispania called on the Thursday to say they did not think what I was trying to do was for the best, as we would still be subject to Tourist rates. they would call back on Tuesday after Easter Bank Holiday. Tuesday they said it would be better for me to pay in to our usual UK acount - so I took the train to London to collect my cheque in person on Wednesday and paid in to the normal account. At last!
Today I have received a letter to say did I really want to pay this in? They have given me four days to decide! Everyone I have spoken to has been really nice, but everyone has given me different information - from charges to timescales. The cheque is for a lot of money and I want to know what to do for the best? I guest Halifax are only giving me Halifax options, so is there a better route out there?
Sorry for long post
I would appreciate some help, so will try to keep this simple!
We have received a Spanish Bankers Draft in euros, and are trying to find the best way of cashing it (getting the best exchange rate).
We bank with Halifax, so called up Halifax Hispania. They advised that we could open an account,pay the draft in and then we could withdraw the money and close the account. Our aim was to transfer the money to a Money Exchange company and get the better rate. We were sent all the forms, filled them in and went to our branch for the ID verification two weeks ago. We were told that we needed to speak to an advisor, no one was available so we booked in with another branch later that day. Went to the second branch, they had no idea what to do and said could they phone us on MOnday? No phone call so went back to my local branch who said they could confirm the ID there. Had to go back Tuesday with husband and ID and paid in the cheque. Hooray. Banco Hispania called on the Thursday to say they did not think what I was trying to do was for the best, as we would still be subject to Tourist rates. they would call back on Tuesday after Easter Bank Holiday. Tuesday they said it would be better for me to pay in to our usual UK acount - so I took the train to London to collect my cheque in person on Wednesday and paid in to the normal account. At last!
Today I have received a letter to say did I really want to pay this in? They have given me four days to decide! Everyone I have spoken to has been really nice, but everyone has given me different information - from charges to timescales. The cheque is for a lot of money and I want to know what to do for the best? I guest Halifax are only giving me Halifax options, so is there a better route out there?
Sorry for long post
MFW 131
0
Comments
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I havent got a definate answer but local branches are always bad at getting the right info about things like this because its not something they deal with regularly. Ask for the Halifax overseas department number and speak to them directly for the correct answer. I would also recommend trying a couple of other banks and check their rates and charges too just to be safe0
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