Banking USD cheques

wagtails

Hi . I have inherited shares in a US company. Every few months I receive my divided in USD and have to take them to my Barclay's bank who convert them to GBP at a great charge. I was wondering if there was a better solution out there as I have recently received a large cheque following a recent merger. I had thought of opening a USD account but not sure that;s possible as I am a UK resident. Also to make matters more confusing the shares are still in my maiden name as the company will only do a transfer of shares to my married name with a medallion stamp which I am having trouble tracking down.

Any help with this would be really appreciated, I've been trying to phone my branch today without success.

Many thanks for reading this,... Wagtails

PeacefulWaters

Sell the shares.

One final cheque and one final set of charges ...

eskbanker

Are there other (more cost-effective) payment options instead of cheques such as wire transfers? Or is a dividend reinvestment scheme available?

GingerFurball_2

wagtails wrote: »

Hi . I have inherited shares in a US company. Every few months I receive my divided in USD and have to take them to my Barclay's bank who convert them to GBP at a great charge. I was wondering if there was a better solution out there as I have recently received a large cheque following a recent merger. I had thought of opening a USD account but not sure that;s possible as I am a UK resident. Also to make matters more confusing the shares are still in my maiden name as the company will only do a transfer of shares to my married name with a medallion stamp which I am having trouble tracking down.

Any help with this would be really appreciated, I've been trying to phone my branch today without success.

Many thanks for reading this,... Wagtails

If the cheque's been made out in your maiden name and your account is in your married name then you won't be able to bank it.