Paying in USD chequer to UK Bank

Souz2

Hi,

I have received a large inheritance cheque in US dollars and need to pay it into my bank account.

I bank with Natwest and contacted them to obtain an estimate of the amount I will receive after charges are applied and subject to the current rate.

I was told that they could not provide a estimate value and I would need to wait until the cheque Is cleared in America and all the charges are process.

I realise I will have to pay bank charges but I would like to able to compare with other banks before cashing the cheque.

Is there a cheaper alternative way to cash my US dollar cheque.

Thanks in advance

Souz

grumbler

No bank will give you you the actual rate, so it's pretty much impossible to compare.
You can compare the fees, but some fees are unpredictable either.
If it's a big amount you can open a USD account, then use a currency broker for conversion, but be prepared to pay ~£20 for the transfer to a broker.

Some threads:
Cashing a USA cheque in UK and withdrawing US Dollars
Cheapest way to pay US dollar cheque into UK acc.