Will HSBC receive cheques in US$

shapala

Hi all. I shall soon be receiving a couple of cheques in US$ for some freelance interpreting work. My current account is with HSBC and I am concerned if HSBC will infact accept the cheques, and if so, what the charges are for them to process the cheque.

The company I'm dealing with in New York also recommended payment via wire transfer. Does anyone know what the charges are for completing a wire transfer if the currency concerned is not £ (in this case, US$)? Perhaps if wire transfer charges are reasonable I will ask for payment via that, rather than snail mail cheque.

Many thanks for any and all help.

bengalknights

They will accept them and convert them at there current rate of forex on day.

For wire transfer you wouldnt have any charges unless the sender requested that you pay for them.

opinions4u

It could take several weeks for a cheque to clear.

Invstigate the wire option!

jonesMUFCforever

bengalknights wrote: »

They will accept them and convert them at there current rate of forex on day.

For wire transfer you wouldnt have any charges unless the sender requested that you pay for them.

Most banks charge a fee for accepting a credit from outside UK - nothing major though about £7 is the norm.

agrinnall

Have a look at this thread for the potential perils of receiving a USD cheque. Wire transfer will be much quicker but I would expect the payer to pass any charges on to you so you'd need to ask them what those charges will be and decide whether it's worth it - we don't know how much the amounts that you're being paid are so it's hard to advise. If they can send one payment rather than two that will save some of the cost.