Easiest AND CHEAPEST way of paying a $ cheque into a UK bank account from abroad ?

Daliah

AdamBrunt said:

Daliah said:

Wise gives her a multi-currency account. One of them is a USD account.

Ah, OK.

So she can set up a multi-currency account at Wise (or I could it for her from here ?) and then she can pay the $ cheque into that account from any US bank and then transfer it to her UK account from within Wise ?

Sorry - for the newbie question - I don't have much, or even any, experience of Wise

The "Wise" option would only work if she can have a bank transfer instead of a cheque.

Since Wise will give her what looks to all intents and purposes like a US account, the payer should have no problem making an electronic transfer into her Wise account. 

Once the money is in her Wise USD accounts, she can exchange some or all of it to GBP, by simply moving it into her Wise GBP account. From there, she can make a Faster Payment to her UK accounts with Barclays or Chase, or to any other UK account.

She can open a Wise account from wherever she is, but using her UK address. I would not recommend that you open the account for her because she is no longer a child and it would be breaching the T&Cs if you pretend to be another adult, even if she is your daughter. Besides, she needs her passport for the application, and that one is obviously with her in the US.

She should also go through the verification steps before any money gets paid in. Wise will send the card to her UK address. Whether you want to keep the card until she returns, or somehow send it to her in a safe way would be up to you/her. 

Emily_Joy

I see no reason why you would want to deposit the cheque into UK bank account. It is typical in the United States to be paid/be reimbursed in cheques. This happens to me all the time even though I do not stay there for more than a week. One day several years ago I walked into Wells Fargo branch in Berkeley and asked if they can cash a cheque for me (this was reimbursement of hotel and local expenses paid by the event organiser). The branch manager suggested to open a checking account with an instant issue card (no name) and deposit the cheque there. It took me about 20 minutes overall. I suggest your daughter does the same - not necessary with Wells Fargo. Since she is in the US for some time she might be able to get a proper card, with her name on it. There is no harm in having US bank account.

Daliah

Emily_Joy said:

I see no reason why you would want to deposit the cheque into UK bank account. It is typical in the United States to be paid/be reimbursed in cheques. This happens to me all the time even though I do not stay there for more than a week. One day several years ago I walked into Wells Fargo branch in Berkeley and asked if they can cash a cheque for me (this was reimbursement of hotel and local expenses paid by the event organiser). The branch manager suggested to open a checking account with an instant issue card (no name) and deposit the cheque there. It took me about 20 minutes overall. I suggest your daughter does the same - not necessary with Wells Fargo. Since she is in the US for some time she might be able to get a proper card, with her name on it. There is no harm in having US bank account.

If this works, she could use it in combination with a Wise account and electronically transfer any USD she doesn't spend to her UK account 

[Deleted User]

Just a short note to say that Revolut are now issuing domestic US ACH details (similar to Wise)

That is another option if she can get it changed to a 'direct deposit' or cashed locally by a friend/colleague then funds transferred. 

landsberger64

Revolut have also just offered a USD account with US details available to UK account holders, where you can transfer money between accounts very easily. 

AdamBrunt

Bit of a thread bump with an update...

She has now finally managed to cash the cheque - had to do it at a Bank Of America branch though apparently who wouldn't let her have a cash card. So she now has about $1400 in $100 bills locked away in a suitcase.

Chino

AdamBrunt said:

So she now has about $1400 in $100 bills locked away in a suitcase.

Staggered that your daughter didn't give any thought to how she would encash any earnings beforehand.

[Deleted User]

Chino said:

AdamBrunt said:

So she now has about $1400 in $100 bills locked away in a suitcase.

Staggered that your daughter didn't give any thought to how she would encash any earnings beforehand.

That's a bit unfair. Yes, she should have asked at the time of application/acceptance but the employer should have asked if she had a checking account etc. 

CKhalvashi

Deleted_User said:

Chino said:

AdamBrunt said:

So she now has about $1400 in $100 bills locked away in a suitcase.

Staggered that your daughter didn't give any thought to how she would encash any earnings beforehand.

That's a bit unfair. Yes, she should have asked at the time of application/acceptance but the employer should have asked if she had a checking account etc. 

In fairness though, that's not really how the US works.

In the UK we are normally paid by bank transfer, but it always pays to assume this may not be the case abroad.

TimSynths

The US is about 20 years behind British banking innovation. I too would have echoed Revolut before departure but glad she has it sorted now.