Depositing Large US Cheque

MissDee1966

Hi all,

This is my first post dictated in a hurry onto my phone in an emergency so please forgive any rules that are not followed.

My husband and I have today decided that our marriage is over.

We recently sold a property in the USA, half of which basically is my settlement. I am now in possession from my husband of a check from his American bank account for $65,000 .

As this is literally all I will be walking away from the marriage with I need to ensure that I achieve the best possible rate/fees etc so I can use the money to set up my new life.

The only bank account I have is a Barclays current account which is currently £700 overdrawn. Clearly I am in need of advice about how best to gain access to this money whether it be into a bank or elsewhere.

Feeling so bewildered at the moment I’m just hoping that somebody out there can help.

eskbanker

If the money has to be in cheque form then there aren't likely to be many options beyond paying it into your Barclays account and accepting the charges and delays.

If you have the option of ripping up the cheque and getting him to transfer the money electronically via a currency broker then it'll give you a better rate: https://www.moneysavingexpert.com/banking/foreign-currency-exchange/

Regarding the broader picture, it seems frankly bizarre to have decided today that your marriage is over and yet to have completed all the negotiations about settlement already - division of marital assets isn't a process to be rushed and would usually benefit from professional advice....

[Deleted User]

MissDee1966 wrote: »

Hi all,

This is my first post dictated in a hurry onto my phone in an emergency so please forgive any rules that are not followed.

My husband and I have today decided that our marriage is over.

We recently sold a property in the USA, half of which basically is my settlement. I am now in possession from my husband of a check from his American bank account for $65,000 .

As this is literally all I will be walking away from the marriage with I need to ensure that I achieve the best possible rate/fees etc so I can use the money to set up my new life.

The only bank account I have is a Barclays current account which is currently £700 overdrawn. Clearly I am in need of advice about how best to gain access to this money whether it be into a bank or elsewhere.

Feeling so bewildered at the moment I’m just hoping that somebody out there can help.

Quite frankly, this looks like :spam:

MissDee1966

I appreciate your advice and I agree entirely that the decision has been reached too quickly.

When emotions aren’t running quite so high there will hopefully be some mediation and a fairer settlement will be reached.

Thanks again x

londoninvestor

As a Barclays current account holder you can easily open a Barclays USD account:
https://www.barclays.co.uk/content/dam/documents/personal/current-accounts/9911230LP_UK%2010.18.pdf

A cheque from outside the UK (even if it's in the same currency as your account), will incur cheque collection/negotiation charges, but at least you avoid having the USD forcibly converted to GBP at a poor rate.

Better still, as eskbanker says, to do electronic transfer rather than a cheque.

MissDee1966

Quite frankly Camelot1971 I was talking to esbanker. Could you wait until I’m done?

Oh, and it’s Luncheon Meat to you.

Oh, and today is not a good day to p*** me off.