Cashing an international cheque

j1256

Hi,
I have a cheque arriving soon from my Australian Super fund from my time living there, obviously in AUD and for around $15000. I'd like to access the cash ASAP however my bank has told me that there is a wait for 28 days for all AUD cheques. Can anyone advise a quicker (and secure obviously) method of obtaining the funds?
Many thanks

grumbler

The only quicker way was a bank transfer instead.

agrinnall

grumbler wrote: »

The only quicker way was a bank transfer instead.

Could still be quicker if the cheque hasn't been paid in yet and the Aussie Super are prepared to make an electronic payment.

j1256

Nope, they're not prepared to do anything other than send a cheque...

henm2

It is likely your bank will process the cheque on a 'collection' basis. That means they send the cheque back to where it is drawn on and get payment from that bank and once funds received then credit your account.

A lot of banks work on a 4 to 6 weeks processing time for 'collection' of foreign drawn cheques. The UK bank will make a charge and also there will be charges made by the foreign bank. Much easier to have electronically transferred the money in the first place rather than using old fashioned cheques.

Deru

One month is not too bad. Mine takes almost 60 days for USD cheques. no charges though

grumbler

No charges?! What bank?