Compensation for lost cheque?

jonesMUFCforever

Firstly I suspect you have been done up like a kipper.
Forget the rate that the personal banker gave you he/she wouldn't know one end of an exchange rate from another.
Also the remark about returned holiday cash and buy back rate is totally wrong.

I would set out what happened briefly in a letter of complaint.
As for 'losing' on the exchange rate you haven't - you will be given the rate when the funds are paid by the Spanish bank and your bank gets the funds (the collection process ) at least this piece of information was correct!

I don't know who suggested you open an Euro account but do you really need it - will you be cashing in the amount of Euros when you can?
If so get the bank to close it for you and refund all charges for opening it.

My advice about the exchange rate still stands - you will get the same rate from the Euro account as if the cheque had been collected - this is why it is bewildering that they advised you open an Euro account!