US $ Cheque options

Keep_pedalling

My wife has received a check (sic) for a few hundred dollars from Computershare, and despite the name they refused any other method of payment.

We bank with Nationwide who no longer deal with foreign cheques, I do manage my mother's Barclays account, but have been advised that I cant pay it into that account even if it is endorsed. It looks like our only option is to open a current account with a bank that deals with foreign payments.

Suggestions for other option or which bank to go with would be appreciated.

agrinnall

I would expect all the major banks to be able to process USD cheques. Be warned that it could easily take 1-2 months to get the funds if they have to send it back to the USA for payment by collection. As an example, this is the RBS page about it.

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

Keep_pedalling

agrinnall wrote: »

I would expect all the major banks to be able to process USD cheques. Be warned that it could easily take 1-2 months to get the funds if they have to send it back to the USA for payment by collection. As an example, this is the RBS page about it.

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

Thanks, I have come to the conclution that this is our only option, not really worried about the time taken, it's just a pain in the backside the so many US companies are still living in the 1970s and think that the rest of the world should do as well.

agrinnall

I don't suppose there's any way that Computershare in the US could transfer the funds to Computershare in the UK so that they can issue you a GBP cheque?

KxMx

Keep_pedalling wrote: »

Thanks, I have come to the conclution that this is our only option, not really worried about the time taken, it's just a pain in the backside the so many US companies are still living in the 1970s and think that the rest of the world should do as well.

I agree with your but also think UK banks have their role to play, being stuck in the past.

It should be easy today to deal with a foreign cheque for a UK bank.

Keep_pedalling

KxMx wrote: »

I agree with your but also think UK banks have their role to play, being stuck in the past.

It should be easy today to deal with a foreign cheque for a UK bank.

In the past NW would take foreign cheques, but I believe the change maybe down to US laws making foreign banks responsible for keeping tabs on US expats. For organisations like NW it is far simpler and cheaper to have zero presence or dealings with the US.

There should be no need to have to deal with the bloody things in the first place. I can understand why some small buisiness who banks with some small state wide bank might still use cheques, but not a large organisation writing cheques on the Bank of America.

agrinnall

KxMx wrote: »

I agree with your but also think UK banks have their role to play, being stuck in the past.

It should be easy today to deal with a foreign cheque for a UK bank.

None of the hold ups processing foreign cheques, especially USD ones, are the fault of UK banks though. They deal with them as quickly as they are able to, but when they have to go for collection the timescale is out of their hands. Your "stuck in the past" reference is particularly ironic given that it's the cheques, which go back to the 18th Century if not further, that belong in the past.