Bankers Draft in Euro's

PGTimes

Hello
I am due to receive a bankers draft from Spain in the next few days. It will however be in Euro's and having never received one before I am unsure as to the best way to proceed with it. Do I simply pay it into my bank account? If so what will this cost me? The bankers draft will amount to 4850 euro. Thanks for any help.

jonesMUFCforever

You have to take it into a bank where you have an account. They will either negotiate (give you the money in a few days but with a proviso that if it bounces they will debit you back) or collect (they send the cheque away for you but you have to wait until the bank received the funds for it - around 3 - 6 weeks) depending on the type of account you hold and the way you run it.

A negotiation charge will be around £10 - Collection will be double that as a minimum.

PGTimes

Thanks for the info... much appreciated.