Deposit a US cheque in the UK

sagal1982

Hi all, need some advice please.
I am going to receive a large cheque from the US over $80,000.  The company won't do a wire transfer which would have been best for me.  They will only issue a cheque (frankly ridiculous in this day and age!).  However to deposit this in a UK bank account looks like it will be astronomical in fees and charges.  Has anybody had any experience in doing this and knows which banks are the most cost effective to do this?
Thank you.

jonesMUFCforever

Banks charge typically 0.25% with a max of £80.
Just make sure the cheque is made out to your proper name as held by the bank not any other name eg If you are Anthony a cheque payable to Tony would not be accepted.

born_again

It will have to be who you bank with anyway, unless you plan to open a account with another bank. But do not expect a quick turn round on the cheque being cashed (8 weeks is a norm) and possibly if it's a new account. Expect a lot of questions.