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cashing a cheque

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Can I cash a cheque in the bank it has been issued from? If so is there a limit ?
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Comments

  • Vortigern
    Vortigern Posts: 3,302 Forumite
    Part of the Furniture 1,000 Posts Photogenic Name Dropper
    If it's a crossed cheque you'll have to pay it in to an account of your own.
  • The money will be from an insurance settlement and is quite a large sum if the check is not crossed and can be cashed would the bank have to be notified before hand?
  • xylophone
    xylophone Posts: 45,607 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    I can't imagine an insurance company issuing an uncrossed cheque.
  • I believe all cheques are 'crossed' these days.
    The 'open' cheque has joined the dodo a long time ago.
  • EarthBoy
    EarthBoy Posts: 3,209 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    The cheque will almost certainly be crossed. I haven't seen an uncrossed cheque for donkeys' years.
  • Robin9
    Robin9 Posts: 12,776 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    The money will be from an insurance settlement and is quite a large sum if the check is not crossed and can be cashed would the bank have to be notified before hand?


    Do you not have a bank account ?
    Never pay on an estimated bill. Always read and understand your bill
  • No I don´t have a bank account in the Uk ....I do have in the euro zone ....this is the point my bank charges quite a lot to change into euros plus I don´t want to change it into euros or put it into the bank account I have in the country I live in but not living in the UK makes it very to nearly impossible open a bank account.
  • Westie983
    Westie983 Posts: 5,215 Forumite
    Tenth Anniversary 1,000 Posts I've been Money Tipped! Name Dropper
    No I don´t have a bank account in the Uk ....I do have in the euro zone ....this is the point my bank charges quite a lot to change into euros plus I don´t want to change it into euros or put it into the bank account I have in the country I live in but not living in the UK makes it very to nearly impossible open a bank account.

    You will have to pay it into a bank account and if that is only your euro account then you will have a accept the fees to convert.

    If you are not living in the UK you wont be able to open a UK account.

    Could you not get the insurance company to pay directly into your account and avoid the need for a cheque completely? this wouldn't solve the conversion issue though.

    Westie983
    I’m a Forum Ambassador and I support the Forum Team on the Banking & Borrowing, and Reduce Debt & Boost Income boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySaving Expert.
    Save 12k in 2023 #58 Total (£4500.00) £2500.00/£5000 = 50.00%
    Sealed Pot Challenge ~17 #24 Total (£55.00) £0.00/£500 = 0.00%
    Xmas 2023 £1 a Day #13 Total (£85.00) £344.00/£365 = 94.24%
    Virtual Sealed Pot #1 Total (£500) £550.00/£500 = 110.00%
    £2 Savers Club 2023 #17 Total (£25.00) £45/£300 = 15.00%
    The 365 1p Challenge 2023 #7 Total £656.19/£667.95 = 98.23%
    Total £4095.19/£7332.95 = 55.84%
  • I have already looked into the bank charges and they are a good bite out of the money plus there is another thing I go to the UK frequently so I am really interested in keeping this money in GB pounds ,,,,I am looking at opening a Revolut account
  • eDicky
    eDicky Posts: 6,835 Forumite
    Ninth Anniversary 1,000 Posts Name Dropper
    Revolut will be no use for depositing a cheque, but will provide a personal account number and sort code for receiving a GBP transfer if the insurance company can pay you that way. Make sure you fully verify your account and arrange a higher limit before receiving a large amount, have source of funds verification ready.

    If the cheque is large enough to fulfil the minimum balance requirements of an 'offshore' account in Jersey or Isle of Man, major banks there such as Santander, HSBC etc will accept non-UK residents for a GBP account with debit card and other facilities.
    Evolution, not revolution
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