cheapest bankers draft facility

wmb194

GringoGoesToVagas said:

QrizB said:

Getting back to the question, the cheapest option is surely to give the cash to a friend who isn't "getting out of banking" and still has a current account with a cheque book, and asking them to write a cheque on your behalf?

Will not work sorry, it must be in my name, its for my share dealing account you see and they WILL NOT accept payment from any other legal entity (how bad is that!)

If you're serious and not trolling, even if you can achieve this you also need to think about how to withdraw money from the brokerage: they often require nominated bank accounts in your name to make electronic transfers to and if it paid you by cheque where would you deposit it? 

Going without a bank account is a seriously bad idea.

GringoGoesToVagas

wmb194 said:

GringoGoesToVagas said:

QrizB said:

Getting back to the question, the cheapest option is surely to give the cash to a friend who isn't "getting out of banking" and still has a current account with a cheque book, and asking them to write a cheque on your behalf?

Will not work sorry, it must be in my name, its for my share dealing account you see and they WILL NOT accept payment from any other legal entity (how bad is that!)

If you're serious and not trolling, even if you can achieve this you also need to think about how to withdraw money from the brokerage: they often require nominated bank accounts in your name to make electronic transfers to and if it paid you by cheque where would you deposit it? 

Yes deadly deadly serious! my share dealing broker have said they will except a check that I send to there head office made out in my own name (legal fiction). And could return the money in the form of a check when i want to sell

wmb194

GringoGoesToVagas said:

wmb194 said:

GringoGoesToVagas said:

QrizB said:

Getting back to the question, the cheapest option is surely to give the cash to a friend who isn't "getting out of banking" and still has a current account with a cheque book, and asking them to write a cheque on your behalf?

Will not work sorry, it must be in my name, its for my share dealing account you see and they WILL NOT accept payment from any other legal entity (how bad is that!)

If you're serious and not trolling, even if you can achieve this you also need to think about how to withdraw money from the brokerage: they often require nominated bank accounts in your name to make electronic transfers to and if it paid you by cheque where would you deposit it? 

Yes deadly deadly serious! my share dealing broker have said they will except a check that I send to there head office made out in my own name (legal fiction). And could return the money in the form of a check when i want to sell

But where will you deposit it if you don't have a bank account? You'd need to open one...

Hoenir

GringoGoesToVagas said:

 charge a £12.50 fee for it. Bit of a rip off IMHO

Employing people doesn't come cheap. Postal Orders may be a cheaper option.

GeoffTF

GringoGoesToVagas said:

QrizB said:

Getting back to the question, the cheapest option is surely to give the cash to a friend who isn't "getting out of banking" and still has a current account with a cheque book, and asking them to write a cheque on your behalf?

Will not work sorry, it must be in my name, its for my share dealing account you see and they WILL NOT accept payment from any other legal entity (how bad is that!)

That is saying that they will not accept a bankers draft even if it is made out to you.

GringoGoesToVagas

wmb194 said:

GringoGoesToVagas said:

wmb194 said:

GringoGoesToVagas said:

QrizB said:

Getting back to the question, the cheapest option is surely to give the cash to a friend who isn't "getting out of banking" and still has a current account with a cheque book, and asking them to write a cheque on your behalf?

Will not work sorry, it must be in my name, its for my share dealing account you see and they WILL NOT accept payment from any other legal entity (how bad is that!)

If you're serious and not trolling, even if you can achieve this you also need to think about how to withdraw money from the brokerage: they often require nominated bank accounts in your name to make electronic transfers to and if it paid you by cheque where would you deposit it? 

Yes deadly deadly serious! my share dealing broker have said they will except a check that I send to there head office made out in my own name (legal fiction). And could return the money in the form of a check when i want to sell

But where will you deposit it if you don't have a bank account? You'd need to open one...

I dont understand the question? I find a broker that will write me the draft from the cash I give them. Then I send the draft off to the head office of my share dealing broker who will pay it to my share dealing account on my behalf 

GringoGoesToVagas

GeoffTF said:

GringoGoesToVagas said:

QrizB said:

Getting back to the question, the cheapest option is surely to give the cash to a friend who isn't "getting out of banking" and still has a current account with a cheque book, and asking them to write a cheque on your behalf?

Will not work sorry, it must be in my name, its for my share dealing account you see and they WILL NOT accept payment from any other legal entity (how bad is that!)

That is saying that they will not accept a bankers draft even if it is made out to you.

Yes they have confirmed that they will except one 

trient

GringoGoesToVagas said:

GeoffTF said:

GringoGoesToVagas said:

QrizB said:

Getting back to the question, the cheapest option is surely to give the cash to a friend who isn't "getting out of banking" and still has a current account with a cheque book, and asking them to write a cheque on your behalf?

Will not work sorry, it must be in my name, its for my share dealing account you see and they WILL NOT accept payment from any other legal entity (how bad is that!)

That is saying that they will not accept a bankers draft even if it is made out to you.

Yes they have confirmed that they will except one 

If they except they won't accept, case closed.

wmb194

GringoGoesToVagas said:

wmb194 said:

GringoGoesToVagas said:

wmb194 said:

GringoGoesToVagas said:

QrizB said:

Getting back to the question, the cheapest option is surely to give the cash to a friend who isn't "getting out of banking" and still has a current account with a cheque book, and asking them to write a cheque on your behalf?

Will not work sorry, it must be in my name, its for my share dealing account you see and they WILL NOT accept payment from any other legal entity (how bad is that!)

If you're serious and not trolling, even if you can achieve this you also need to think about how to withdraw money from the brokerage: they often require nominated bank accounts in your name to make electronic transfers to and if it paid you by cheque where would you deposit it? 

Yes deadly deadly serious! my share dealing broker have said they will except a check that I send to there head office made out in my own name (legal fiction). And could return the money in the form of a check when i want to sell

But where will you deposit it if you don't have a bank account? You'd need to open one...

I dont understand the question? I find a broker that will write me the draft from the cash I give them. Then I send the draft off to the head office of my share dealing broker who will pay it to my share dealing account on my behalf 

I'm referring to the cheque the broker sends you when you make a withdrawal. Where will you bank it if you have no accounts?

"And could return the money in the form of a check (sic) when i want to sell"

GringoGoesToVagas

wmb194 said:

GringoGoesToVagas said:

wmb194 said:

GringoGoesToVagas said:

wmb194 said:

GringoGoesToVagas said:

QrizB said:

Getting back to the question, the cheapest option is surely to give the cash to a friend who isn't "getting out of banking" and still has a current account with a cheque book, and asking them to write a cheque on your behalf?

Will not work sorry, it must be in my name, its for my share dealing account you see and they WILL NOT accept payment from any other legal entity (how bad is that!)

If you're serious and not trolling, even if you can achieve this you also need to think about how to withdraw money from the brokerage: they often require nominated bank accounts in your name to make electronic transfers to and if it paid you by cheque where would you deposit it? 

Yes deadly deadly serious! my share dealing broker have said they will except a check that I send to there head office made out in my own name (legal fiction). And could return the money in the form of a check when i want to sell

But where will you deposit it if you don't have a bank account? You'd need to open one...

I dont understand the question? I find a broker that will write me the draft from the cash I give them. Then I send the draft off to the head office of my share dealing broker who will pay it to my share dealing account on my behalf 

I'm referring to the cheque the broker sends you when you make a withdrawal. Where will you bank it if you have no accounts?

"And could return the money in the form of a check (sic) when i want to sell"

Im not 100% sure hear! they did say that they will send me a check for it, but nid not say if it will be in the form of a bankers draft or not