A Cheque in dollars

deb76

I have just rec'd a cheque but it is made out in dollars, will the bank charge me when i bank it to get it converted, if so how much?

rosysparkle

You would be better using auctionchex to cash it: http://auctionchex.com/exchangedp-s.html

wolfehouse

yes- the banks generally levy a set fee for the first set amount and a percentage thereafter.

when my kids were small( a decade ago) it was around a fiver- harsh when they got small birthday cheques in dollars- i almost felt they would end up owing the bank for bringing it in and not get anything at all back.

banks then also set the exchange rate...

Biggles

The exchange rate, in my expreience, is quite good. The banks make most of their money, esp for smaller cheques, from the flat-rate charge.

If it's under £50-100, go to someone like Auctionchex, otherwise check with your bank what their charges would be.