Cashing a foreign cheque in the UK

Smilersdad

I have a cheque in Thai Baht I need to cash.  I have confirmed I can cash it with my bank, but it will take 6-8 weeks to clear and they can't confirm the rate as it will be set on the clearing date. I'm pretty sure it wont be the best rate out there either.
Any idea of other options to safely cash a GBP five figure foreign currency cheque?

wmb194

Smilersdad said:

I have a cheque in Thai Baht I need to cash.  I have confirmed I can cash it with my bank, but it will take 6-8 weeks to clear and they can't confirm the rate as it will be set on the clearing date. I'm pretty sure it wont be the best rate out there either.
Any idea of other options to safely cash a GBP five figure foreign currency cheque?

Is your bank HSBC? It seems to be one of the few banks left that will deal with foreign cheques. Unless you can go back to the issuer and have them send it electronically I don't think there's much you can do.

Smilersdad

Thanks, It's Halifax, and unfortunately it had to be a cheque

TiVo_Lad

Is there a chance you could get them to reissue the cheque in another name? There are a few of the foreign currency firms that will cash cheques made payable to them rather than you. Their fees are lower and the exchange rates are better. Of course you might not be able or comfortable doing that, in which case all you can really do is pay it into the Halifax and just accept it probably won't be a pleasant financial experience.

xylophone

just accept it probably won't be a pleasant financial experience.

Indeed.

https://www.comparethemarket.com/current-accounts/content/foreign-currency-cheques/

TheBanker

The other problem with foreign cheques is that you can never be absolutely certain they've cleared. I would really try for an alternative method of payment. 

5005

Did this ever get resolved? I am in the same position.