Cashing US dollar affiliate cheques in the UK

rich246

Can anyone suggest a simple and inexpensive way to cash US dollar affiliate cheques (total value under $200) into UK pounds.

The cheques are coming through on an irregular basis so am hopeful that someone in the UK has encountered this same problem and might be able to post a solution.

And before you ask, I have requested electronic payments but this seems to be prohibitively expensive at their end compared to writing out a cheque so they have said no!

Thanking you in advance

asajj

And they can't use Paypal too ?

rich246

Thanks asajj, I suggested Paypal several years ago but once again it is % based, so far more expensive for them than posting a dollar cheque and leaving me with the problem and the costs of cashing it!

What I can't understand in this modern day world is why it is so damn difficult to cash foreign cheques, especially when the are US dollar.

Sugarplum634

Can't you deposit in the bank like normal? I was under the impression you could and it was converted to pounds sterling using the exchange rate of the day the cheque cleared.

asajj

rich246 wrote: »

Thanks asajj, I suggested Paypal several years ago but once again it is % based, so far more expensive for them than posting a dollar cheque and leaving me with the problem and the costs of cashing it!

What I can't understand in this modern day world is why it is so damn difficult to cash foreign cheques, especially when the are US dollar.

Heh I know the feeling! Just like some companies are insisting on using fax!

I'm not sure about the cheques unfortunately, found this though!

https://forums.moneysavingexpert.com/discussion/10656

http://personal.rbs.co.uk/personal/travel-international/international-payments/receiving-money-fromabroad/handling-drafts-andcheques.html


I think you can open an USD account and cash them in!

soolin

Sugarplum634 wrote: »

Can't you deposit in the bank like normal? I was under the impression you could and it was converted to pounds sterling using the exchange rate of the day the cheque cleared.

They can be paid into an account but depending on the bank the additional charges for accepting a non sterling cheque can be very high. The last one I enquired about was almost £20, and it would take weeks to clear.

Deru

Hello

I used to receive USD Affiliate cheques. Now I only get the occasional random one. I used to use https://www.auctionchex.com

Basically, post your cheque to them after filling their form. They will post back a GBP equivalent cheque after fees. They take USD cash too.

MOST banks charge a high fee, £15 - £20 up to $100 cheques and sometimes more for higher amounts.

NOWADAYS, I bank them with MetroBank if you have access to a branch. No fees. Takes almost 60 days to clear but I'm not in a rush for the money.

Hope that helps.

rich246

Thank you asajj,

Have taken a look at RBS which looks a possibility as does Natwest Bank. Ought to mention that it would appear that RBS International closing down and are moving their customers over to the Natwest brand.

Thanks Deru,

Unfortunately auctionchex.com is no more and the domain is up for sale, Metro Bank is interesting but from what I have read on their website I would have to personally visit them for an interview which is difficult because as far as I'm aware all the branches are in London.

I would prefer not to have to open a new UK bank account just to cash the occasional US dollar cheque but it looks like I will have no option but to do so!

shmeeko69

rich246 wrote: »

Can anyone suggest a simple and inexpensive way to cash US dollar affiliate cheques (total value under $200) into UK pounds.

The cheques are coming through on an irregular basis so am hopeful that someone in the UK has encountered this same problem and might be able to post a solution.

And before you ask, I have requested electronic payments but this seems to be prohibitively expensive at their end compared to writing out a cheque so they have said no!

Thanking you in advance

I use a bank reconciliation form for my Amazon US payments enabling them to convert the US Dollar to Sterling and it's quite a straightforward process once you done it a couple of times.

rich246

Just to update everyone, I couldn't find an easy way to cash these cheques so having checked various Banks and Building Societies I opted to open a Halifax account which was handled in a friendly and extremely efficient manner.

The form was filled out by a cashier who guided me through the process and thankfully the commission on cashing these two US dollar cheques was a very reasonable £8.

So 10 out of 10 to the Halifax Bank staff whom I was thoroughly impressed with.

asajj

Nice to see it is sorted!