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Santander charges
Mariej
Posts: 2 Newbie
Has any one come across this before.I recently paid in a cheque at Santander in US dollars from an American bank. I was charged £10.00 for this transaction. I've visited my local branch and was told this is normal practice for any currency not GBP. I thought Santander was an international bank so this seems very strange to me as I assume money is transferred electronically where ever the cheque is raised.
As an OAP £10.00 from a £40 ish transaction is a lot to loss and I will not be using Santander bank for any other currency cheques.
As an OAP £10.00 from a £40 ish transaction is a lot to loss and I will not be using Santander bank for any other currency cheques.
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Comments
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The majority of banks will charge if you deposit a non sterling cheque into your sterling account and different banks will charge different amounts, however £10 is generally the norm.
Did you pay in at the branch or just post to their Head Office? If you paid in at branch then you should have been advised of any fees.
Register your complaint with them, if you are a long standing customer and this is the first time you've done it they may refund the fee as a goodwill payment to you.
If it is something that is going to be regular I would advise either to have the monies sent electronically (enquire first about fees) or ask the sender to issue a cheque in sterling.0 -
Negotiating international cheques is not straight forward and costs money. Not least the high tech issue of international postage .
The fact you're an OAP isn't relevant. If it's going to be a common event then you might want to look in to international banking services and dollar currency accounts.
The charge is outlined in their tariff.Presenting a foreign cheque £10 for each cheque (the paying bank may also charge you)
http://www.santander.co.uk/csgs/StaticBS?blobcol=urldata&blobheader=application%2Fpdf&blobkey=id&blobtable=MungoBlobs&blobwhere=1223419665262&cachecontrol=immediate&ssbinary=true&maxage=36000
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