Banks with competitive foreign cheque negotiation fees?

Paul_N_4

Hi

Just wondering if anyone has experience with a bank that offers good foreign cheque negotiation fees?

I'm currently with Barclays. They charge £9 processing fee (unlimited amount of cheques), but 2.75% for the currency conversion. Obviously as your check amount rises, that 2.75% starts to become quite significant.

Anyone know of better? Or is this currency converison fee standard? I just don't see why a bigger cheque warrants a bigger fee. Surely the processing is the same.

grumbler

If you receive cheques regularly consider Citibank (UK).

http://www.citibank.co.uk/uk/bankingproducts/currentaccounts/usdollar/index.jsp

The US Dollar Current Account key features and benefits include:

Write or deposit US Dollar cheques free of charge. Because we clear through Citibank in New York we save you time and money.

Receive and make payments directly in US Dollar. There’s no need to change between currencies - the amount, in US Dollars, is simply debited from your account held here in the UK.

Transfer US Dollars instantly across the world to other Citibank accounts, with no fee charged

See also my post here: Euros Bank Account

Also: http://www.auctionpix.co.uk/misc/money.html