Euro denominated current accounts

schiff

I have a French current account (denominated - naturally! - in euros).

I am due some money from an Irish company and have the opportunity to be paid with a cheque drawn on an Irish bank, but denominated in euros. The sum is large enough for any bank charges and exchange factors to amount to a few pounds. This is why I am attracted to the idea of paying it into a euro account, and hopefully saving any losses on conversion.

However I don't know if my French bank will charge for accepting an Irish cheque - I have asked them and they said no, but it was a nervous young girl and I'm not sure whether I have got the right message.

Anybody do anything similar by way of cross-border cheque deposits, even though in the same currency? I do realise of course that different banks may well do different things! Any useful info would be appreciated.

schiff

techno_geek

I'm sure any non-Irish bank would charge a small fee for processing the cheque, though you won't lose anything in the conversion process by paying it into your French bank account.

I have a French bank account, and as far as I'm aware only euro cheques originating from other French banks (and accounts in Monaco) can be cashed in the usual free way. You're best off asking to speak to a senior bank clerk, or the manager just to be sure!

To be honest, it's probably easier for you to pay it into your French bank account to avoid unnecessary complications in opening a british Euro current account.

HTH...

AndyR_3

All the banks I have worked for (3) will charge their normal negotiation fee for paying a cheque drawn on a Eurozone bank account into a Euro account. But you won't loose out on the exchange rate.