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Euro Cheque

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kah22kah22 Forumite
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I’d like some advice.  I’m living in Northern Ireland for a long time now but I originally came from the Rep of Ireland

Before the complete collapse I sold some shares in a Southern company. The shares were willed to me many, many years ago. My nest egg!

As you’ll appreciate the cheque came in Euro. If I take it to my local bank then, I assume, they will discount it quite heavily even though it will be going straight into my regular account until I start renovations next May

What I’m trying to discover is if there is any (legal) way I can get this cheque changed into Sterling without loosing  a big chunk of it. For convince sake I’d rather keep it in my Northern account but if I had to keep it down South till I needed it then I would, but I don’t think I could open an account there

Any suggestions? If you would prefer to contact me me privately then great. I just want to get this sorted out

Stay safe

Kevin


Replies

  • edited 1 June at 8:17AM
    ballyblackballyblack Forumite
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    edited 1 June at 8:17AM
    , I assume, they will discount it quite heavily even though it will be going straight into my regular account until I start renovations next May

    Dont know what you mean about discount??
    If you lodge it into your current sterling account it has to be converted to sterling

    The mid price is around 90p to the euro today

    The bank will add a couple of pence probably give you 87p to the euro to this and there will be a foreign currency charge

    If you need the money in sterling that is the only way

    Opening a euro account in the south will not change this fact if you need it eventually in sterling
    The Euro sterling rate fluctuates on a daily basis and its difficult to second guess it
  • qwert_yuiopqwert_yuiop Forumite
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    The only way to do it without getting caught with bank charges is to know someone like me who works in both states and has an account in both jurisdictions. I often change money for friends and relatives at actual rates, occasionally accepting a tip. PM me, maybe you live nearby.
    “What means that trump?” Timon of Athens by William Shakespeare
  • ballyblackballyblack Forumite
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    The only way to do it without getting caught with bank charges is to know someone like me who works in both states and has an account in both jurisdictions. I often change money for friends and relatives at actual rates, occasionally accepting a tip. PM me, maybe you live nearby.
    If the poster has a crossed cheque in their name how is it possible to pay into another euro account with different name?
  • qwert_yuiopqwert_yuiop Forumite
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    He gets it cashed as euro in the south. Someone with a bank account in both states gives him the equivalent in Sterling. I do it pretty often. I’ve even paid for cars for southern colleagues buying in England.
    “What means that trump?” Timon of Athens by William Shakespeare
  • qwert_yuiopqwert_yuiop Forumite
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    Is it a crossed cheque? Not indicated.
    “What means that trump?” Timon of Athens by William Shakespeare
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  • edited 4 June at 2:19PM
    ballyblackballyblack Forumite
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    edited 4 June at 2:19PM
    If the proceeds of the will was paid out by a solicitor that will be a crossed cheque with the recipients name.  That is my experience. 

    Perhaps the poster should enlighten us?
  • qwert_yuiopqwert_yuiop Forumite
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    Presumably the cheque came from a stockbroker.
    “What means that trump?” Timon of Athens by William Shakespeare
  • ballyblackballyblack Forumite
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    Presumably the cheque came from a stockbroker.
    I read posters original post again so you are probably correct.
    The poster will know!
  • qwert_yuiopqwert_yuiop Forumite
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    Well, I’m open to cash exchanges to our mutual benefit. Don’t let the banks make off with your money.
    “What means that trump?” Timon of Athens by William Shakespeare
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