Foreign cheque processing fee

grumbler

Yes, PP is expensive, but I don't think that a cheque can be cheaper.

MarkFromCornwall

amitski wrote: »

Hello,

What bank offers the lowest foreign cheque processing fees please? I need to cash in a couple of US$ cheques.

Here are Lloyds' charges:
• Sterling value of £100 or less = £5.
• Sterling value more than £100 = 0.25% of the total sterling
value to a maximum of £80. The minimum value charged will be
between £8 and £15 – depending on whether we negotiate the
cheque, or wait for the funds to be released by the paying bank.

http://www.lloydsbank.com/assets/media/pdfs/current-accounts/Banking_charges_guide.pdf (page 14)

MarkFromCornwall

amitski wrote: »

Hello,

What bank offers the lowest foreign cheque processing fees please? I need to cash in a couple of US$ cheques.

Thanks a lot in advance!

Here are Nat West's charges...
Cheque value up to £100 is £5.
For £100.01 to £5000 is £10.
For £5000.01 to £20000 is £30.
Above £20000 it's £60.

http://personal.natwest.com/content/dam/natwest_com/currentaccounts/downloads/NatWest-Personal-Charges.pdf

grumbler

It's worth saying that these charges are on the top of the poor exchange rate.

amitski

Thanks a lot for your advice, very helpful! :beer:

Sea_Shell

Just been looking into this, as we have a small $13 cheque to pay in and Santander want £10 and TSB £8. Bit of a rip-off, but hey...want can you do!!

Sea_Shell

Doh! Just realised I'd worked out the exchange the wrong way round. $13 = £8 not £20!! Epic fail all round. Might as well put cheque in the shredder!