cashing a cheque

purplepetals

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

Vortigern

If it's a crossed cheque you'll have to pay it in to an account of your own.

purplepetals

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

I can't imagine an insurance company issuing an uncrossed cheque.

bengal-stripe

I believe all cheques are 'crossed' these days.
The 'open' cheque has joined the dodo a long time ago.

EarthBoy

The cheque will almost certainly be crossed. I haven't seen an uncrossed cheque for donkeys' years.

Robin9

purplepetals wrote: »

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 ?

purplepetals

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

purplepetals wrote: »

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

purplepetals

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

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.