How long would it take the bank to cash it?
I received a cheque this morning (inheritance)in GBP
from The Royal Bank of Scotland,and my bank has told me it will take atleast 4 weeks to cash,are they just using my money to make interest for themselves?
thanks for any links you could find me
and thanks for your answers in advance
2007-07-20 01:05:42 · 8 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Sorry forgot to say im living in Germany
2007-07-20 01:07:03 · update #1
If you have a sterling account with a British Bank, it should not take cause a problem, but if you have to convert the cheque to euros, then it would take a few weeks, I believe.
Could the Bank of Scotland not send you payment in Euros if you requested it? It may be worth a try and a phone call to find out.
Good luck with this.
2007-07-20 01:16:18 · answer #1 · answered by heeeelp 3 · 0⤊ 0⤋
Unfortunately, foreign cheques do take a long time to clear! US cheques can take up to 7 weeks!
The problem is that even in this age of electronics, the paper cheque has to be sent to the issuing bank through the post, and then the reply comes back through the post as to whether it will clear or not.
I know its ridiculous as you would think it would all happen electronically, but unfortunately thats the way it currently works, and why it takes so long for foreign cheques to clear.
2007-07-20 01:13:26 · answer #2 · answered by Anonymous · 0⤊ 0⤋
It might take a little longer , then a normal cheque , but 4 weeks is taking the mick
They have to send the cheque to the german bank , and wait for a reply , The postal system is not that slow ,
2007-07-20 06:21:58 · answer #3 · answered by Stephen A 4 · 0⤊ 0⤋
They tell you that as a precaution for the longest time period it could take. Most cheque's (foreign) tend to clear in about 10 days (bank days) it may take that long, but more than likely you will have the funds more quickly, I would start checking your account in about 7 or 8 days you will hopefully be surprised.
2007-07-20 02:57:59 · answer #4 · answered by TheatreFan 6 · 0⤊ 0⤋
cant answer your personal query, but I live in London and received a dollar cheque from USA. I was also told it would take 4 weeks, this is becuase they have to claim the money from the original foreign bank, debit the foreign account etc. But actually mine was done in a week - so 4 weeks is probably maximum.
2007-07-20 01:12:58 · answer #5 · answered by Helen C 4 · 0⤊ 0⤋
I cashed a euros check in England not to long ago - It only took about 10 days........
2007-07-20 01:14:40 · answer #6 · answered by john n 3 · 0⤊ 0⤋
No problem bro. It takes 3-7 weeks.
Later Bro!
2007-07-20 01:08:21 · answer #7 · answered by Anonymous · 0⤊ 0⤋
It will probably take this long, as it involves an international fund transfer.
2007-07-20 01:17:10 · answer #8 · answered by Beau R 7 · 0⤊ 0⤋