Anyone know procedure for foreign cheques for Barclays?

indierocker85

Hi guys,

I use Neteller a lot and my main transactions are in US Dollars ($), purely to avoid £ to USD conversion charges between transactions.Now I have quite a large amount that I want to withdraw. Neteller are offering me the option of a bank transfer or sending me a cheque, however either way both of which would be in USD dollars.

If I agreed to them sending a me a USD cheque for the withdrawal does anybody know the procedure for Barclays current accounts for me to deposit foreign cheques, as the barclays website isn't the best when it comes to information. And also, any charges if any that it involves :mad:.

Or if I do a direct wire transfer into my bank account, does anybody know what sort of charges this is likely to incur? Hopefully none

I am just wanting to deposit it to my standard Barclays current account, or possibly my Barclays ISA.

Any help would be appreciated, to save having to call the call centre and speak to broken english speaking staff.

PasturesNew

I tried finding out the answer of "how much will it cost me to bank a US$ cheque and how long before the money is mine?" at the counter of Barclays. And they couldn't give me anywhere near an answer. Three of them tried to answer it. Their only solution was "Don't know. Pay it in and find out"

jonesMUFCforever

Can't speak directly for Barclays but here goes - if you opt for the transfer option in USD - the bank will automatically convert the $ to £ (unless you have a dollar account). There is no charge for this but they will charge approx. £12 for 'receiving' money from abroad.
If it was me this would be my preferred option.

If you decide to accept a cheque you have to physically pay it in at your bank, wait for it to be negotiated or collected which could take a long time. (Collections usually take 4-6 weeks) - you will pay a fee dependent on the sterling value (something like 25p per £100 with a min. of around £10).

The downfall in all this is that the dollar is very weak against the £ - so you might not get anything like you hoped for.

YorkshireBoy

Both your questions would seem to be (at least partially) answered in the 'ask a question' section of the Barclays website.

http://barclays.metafaq.com/templates/barclays/main/answerPage?_mftvst:answerRef=%24http%3a%2f%2fapi.transversal.com%2fmfapi%2fobjectref%2fEntryStore%2fEntry%2fhttp%3a%2f%2fwww.metafaq.com%2fmfapi%2fMetafaq%2fClients%2fbarclays%2fModules%2fday2day_banking%2fTopics%2fpayments_transfers%3a7517%3a9&_mftvst:moduleID=%24day2day_banking&_mftvst:topicID=%24payments_transfers&id=PCB237M4VG4PE6TCF54U7NBASQ

http://barclays.metafaq.com/templates/barclays/main/answerPage?_mftvst:answerRef=%24http%3a%2f%2fapi.transversal.com%2fmfapi%2fobjectref%2fEntryStore%2fEntry%2fhttp%3a%2f%2fwww.metafaq.com%2fmfapi%2fMetafaq%2fClients%2fbarclays%2fModules%2ftravel_international%3a9011%3a19&_mftvst:moduleID=%24travel_international&_mftvst:topicID=%24&id=MR32M9MQ2N5OMKNA7DUG1SRD6M