I've recently sold a number of shares on the NY Exchange and am expecting a cheque pretty soon. However, it will be in Dollars and I only have a UK High Street bank account. I've been told my bank will only accept cheques in GBP
How can I cash a foreign currency checque? What is the clearing process?
Thank You
2006-10-25 23:33:04 · 11 answers · asked by Cracker 4 in Business & Finance ➔ Personal Finance
Your bank should accept it but will charge you and it may take several weeks to clear it. Ask the bank again. If they don't accept $ cheques themselves, they should be able to advise you how you can get it transferred. If they can't, contact the UK branch or representative of the bank the cheque is drawn on.
If you have a PayPal account, that may be a way round the problem.
2006-10-25 23:38:15 · answer #1 · answered by Owlwings 7 · 0⤊ 0⤋
If you go to an actual bank (eg barclays)... they should be able to cash it.. however you will need an account with them as they are all a bit stingy in that way. I know The woolwich building society defo do it... but they go via american express. So you need an account with them, there is a fee on it.... errrrrm £3 upwards.. depending on the amount of the cheque. And it can take up to 6 weeks to clear. But somewhere like barclays or HSBC should be able to do it quicker but still with a fee, as they clear their own cheques. Hope that works..... x
2006-10-25 23:39:25 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You have to get British pounds once you get there. Use the exchange centers at the Airport. They give you a better rate most often. If you wait till you get into England proper, you'll be lucky to get 60% of your cash. For instance, if you give the man at the exchange $100, he'll take off a fee and adjust it for the rate and you'll be lucky to get 50 or 60 pounds out of it. If you go to london, stay in the Bayswater area. Britannia Court Hotel was pretty cheap considering, but if you're going to be there a while, you might want to rent a temporary flat. Might be cheaper.
2016-05-21 21:49:11 · answer #3 · answered by Anonymous · 0⤊ 0⤋
If you have bank a/c, then it's possible to deposit the cheque in the bank and bank will take care of International clearing....
2006-10-26 00:31:22 · answer #4 · answered by Rahul 2 · 0⤊ 0⤋
Ask your local bank to collect the money and deposit
the proceeds into your bank account. If you don't
have one, open an account. A small fee will be charged
therefore will advise you to inquire as to whether the
amount is worthwhile.
2006-10-26 00:42:14 · answer #5 · answered by CAPTAIN BEAR 6 · 0⤊ 0⤋
You can present the check to your bank and they will send it for collection. It might take a couple of weeks and, of course, they will make something on the exchange rate.
2006-10-25 23:37:19 · answer #6 · answered by Anonymous · 1⤊ 0⤋
i received a dollar cheque from a transaction i made on ebay...i could not cash it anywhere and still have it so if you find out i will be watching this page
2006-10-25 23:35:46 · answer #7 · answered by ALAN B 3 · 1⤊ 0⤋
any bank will do it for you though they will charge a handling fee normally 1-2%
2006-10-26 00:10:06 · answer #8 · answered by jojo 4 · 0⤊ 0⤋
Pay it into your bank - they'll convert it. Probably for a fee though.
2006-10-25 23:36:04 · answer #9 · answered by frenziedmonkey 3 · 1⤊ 0⤋
the bank of america should do it, theres one in central london somewhere
2006-10-25 23:35:24 · answer #10 · answered by hellraiza15 3 · 1⤊ 0⤋