i won the lottery in london a i was trying to figure should i receive my money in cheque or by consignment what is the best way and will my bank here in the united states cash a cheque from the uk?
2007-12-11 11:39:30 · 10 answers · asked by constant l 1 in Business & Finance ➔ Personal Finance
London has a lottery now??
that's news to me!
2007-12-11 11:46:09 · answer #1 · answered by Al 4 · 0⤊ 0⤋
The lottery should have a way of directly depositing your winnings into your bank in the UK. If I were you, I'd keep the bulk of it in Euros, and only transfer small amounts by wire (no physical cheque) here as needed. If you think about how corporations transfer large sums, it's not by someone walking over a check. The small fee is worth it.
Not to insult anyone's intelligence, but beware of common scams that make you think you've won the lottery, as a means to defraud you of your account numbers. Be sure to follow the chain of trust from a different source than that which notified you. For example, if you received notification in the mail, independently look up the lottery office in the phone book, and confirm. Don't just take a phone number or website from the notice.
I'd suggest also going to your bank, and speaking with a representative, there, on how to best transfer such money, with an eye toward avoiding scams. A financial advisor there might also give you tips on tax treatment, if you're a US citizen.
2007-12-11 11:58:22 · answer #2 · answered by roderick_young 7 · 0⤊ 0⤋
If the settlement was given to her and put into her bank account with her SSN, there is a record of it. She can give the money away, but she cannot hide it. Do you really think it is morally right for her to cheat the Medicare program that is already having difficult being solvent which covers a lot of people who have very little income. If you receive $100,000 you have to pay tax on it becaue it is not YOUR settlement. You will be in the same tax bracket because this is only a one time payment like an inheritance.
2016-05-23 03:23:42 · answer #3 · answered by myung 3 · 0⤊ 0⤋
This sounds like a scam.
However, it is not advisable to accept a UK cheque to be drawn in the US.
Request either a foreign draft (cheque made out in US Dollars that can be drawn in US easily) or get them to send an international electronic payment.
2007-12-12 09:28:41 · answer #4 · answered by Anonymous · 0⤊ 0⤋
It is illegal to enter a foreign lottery in the US. Of course, that does not apply to you because you DIDN'T enter the UK lottery, did you? Winning foreign lotteries that don't actually exist is one of the most common SCAMS going these days. My advice is RUN from this deal.
2007-12-11 11:49:58 · answer #5 · answered by STEVEN F 7 · 2⤊ 0⤋
I tell you what ... why do I accept the cheque on your behalf but I'll pay you before I cash it. Or double or triple ...
2007-12-11 13:01:39 · answer #6 · answered by orange07974 2 · 0⤊ 0⤋
You have already ask this question 3 times!! It's a Scam.
2007-12-11 11:49:35 · answer #7 · answered by Anonymous · 0⤊ 0⤋
just give your bank details to complete strangers
i,m sure they,ll look after you??
SCAMMMMMMM
2007-12-11 11:57:55 · answer #8 · answered by Anonymous · 0⤊ 0⤋
bankers draught is safer
2007-12-12 20:40:40 · answer #9 · answered by Anonymous · 0⤊ 0⤋
I CANNOT BELIEVE PEOPLE STILL FALL FOR THIS SCAM
2007-12-11 22:50:30 · answer #10 · answered by alatoruk 5 · 0⤊ 0⤋