cheque in Euros for 3 and a half thous?What to do?

asking04

Hi,

I've received a cheque for 3 half thou euros.

I am a Halifax account customer, wld like some help on

a ) Is NOW the best time to lodge/change it in terms of euro against pound etc. Is the pound - euro balance going to change again?

b) if I must prob go through the bank what is the charge? Is it percentage or flat?

Advice on how best to proceed, please?

jonesMUFCforever

If you have Euros now is a good time to exchange into sterling as the Euro is much higher against the pound than last year.
Most banks charge a minimum fee of £10 or so but for larger cheques it is common to pay 25p per £100 up to a max of £40 or so.

Biggles

asking04 wrote: »

a ) Is NOW the best time to lodge/change it in terms of euro against pound etc. Is the pound - euro balance going to change again?

Nobody knows. If they did, they'd be rich and wouldn't be reading this.

b) if I must prob go through the bank what is the charge? Is it percentage or flat?

Ask the Halifax, they will know best.

regularsaver1

The cheque is sent off by the branch, and then percentage debited , but it can take time

From halifax website:

[FONT=Arial, Helvetica]"Foreign Cheques and Deposits[/FONT]
[FONT=Arial, Helvetica]You can also pay selected foreign currency cheques into your account at a branch counter. We'll advise you of the charges and when your account may be credited at the time you make the deposit.[/FONT] [FONT=Arial, Helvetica]Some cheques may need returning to their country of origin – known as Foreign Cheque Collection. You'll be notified if your cheque needs to be dealt with in this way. The cleared funds will then be credited to your account when we receive them, which can take up to six weeks and we'll write to you advising of the amount received, less our charges.[/FONT] [FONT=Arial, Helvetica]Any banks involved in clearing a cheque may make a charge."[/FONT]

Your cheque should need to be sent off

asking04

jonesMUFCforever wrote: »

Most banks charge a minimum fee of £10 or so but for larger cheques it is common to pay 25p per £100 up to a max of £40 or so.

- I can live with that!
Thanks for reply

asking04

Biggles wrote: »

Nobody knows. If they did, they'd be rich and wouldn't be reading this.

.

Well, yeah, but some people feel it in their gut...or have read something somewhere....

bjo_2

try
www auctionchex.com

asking04

bjo wrote: »

try
www auctionchex.com

thanks much for the tip.. Interesting ABOUT EBAY sellers etc.

It says cheques can't be PAYEE so rules me out.

asking04

regularsaver1 wrote: »

The cheque is sent off by the branch, and then percentage debited , but it can take time

From halifax website:

[FONT=Arial, Helvetica]"Foreign Cheques and Deposits[/FONT]
[FONT=Arial, Helvetica]You can also pay selected foreign currency cheques into your account at a branch counter. We'll advise you of the charges and when your account may be credited at the time you make the deposit.[/FONT] [FONT=Arial, Helvetica]Some cheques may need returning to their country of origin – known as Foreign Cheque Collection. You'll be notified if your cheque needs to be dealt with in this way. The cleared funds will then be credited to your account when we receive them, which can take up to six weeks and we'll write to you advising of the amount received, less our charges.[/FONT] [FONT=Arial, Helvetica]Any banks involved in clearing a cheque may make a charge."[/FONT]

Your cheque should need to be sent off

Thanks for the info -I appreciate .

I have found with smaller amounts it's a flat £10 but this is alot more. Also it does not take them anything like the time they estimate -mostly within a week...

regularsaver1

can;t you ask the drawer to do a transfer direct into your bank acc