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Cashing US cheques in the UK?

Discussion in 'BlackHat Lounge' started by ben10023, Apr 15, 2012.

  1. ben10023

    ben10023 Regular Member

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    So I got my first aff cheque the other day for a couple hundred dollars :D Not too much but it's a good start and the next one is already going to be bigger.
    However I was relatively surprised that I had to pay like £15 as a charge (Lloyds TSB). So I was wondering what the most efficient way to cash US cheques in the UK is, i.e. best rates and small charges? What banks do you guys use, or do you take it in plimus/payoneer/paxum which I haven't really looked into as they're kinda US based. Obviously I use paypal when I can..

    thanks
     
  2. RuiGomes

    RuiGomes BANNED BANNED

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    I have that problem too when it comes to cashing out cheques. The solution is to only ask for a cheque when you have a really high amount, so those 15£ won't really matter, or ask the company to pay through paypal.
     
  3. webnise

    webnise Regular Member

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    I usually pay 10GBP via Halifax for my Amazon US cheques.
     
  4. oxonbeef

    oxonbeef BANNED BANNED

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    Try CITI Bank. You can open a US dollar account.
    It's free to transfer between accounts.
    Code:
    http://www.citibank.co.uk/personal/banking/bankingproducts/currentaccounts/splash/plusb.htm?gclid=COugwbzQta8CFQITfAodDBd7jQ
     
    • Thanks Thanks x 1
  5. CashGrower007

    CashGrower007 Regular Member

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    Are you sure you got charged?

    I'm with the same bank and I remember depositing a US check a few years back and there were no fees. It took around 2 working days to clear though.
     
  6. nigel44

    nigel44 Registered Member

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    Yes it is a pain, Santander charge me £15 as well, makes you wonder sometimes just what the banks have do to get a rollicking from the regulators.
    If you knew half of what Blythe Masters does to food prices you would be hopping mad, she is head of JP Morgan Commodities, now whats a Bank doing with those?
     
  7. ben10023

    ben10023 Regular Member

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    Yep positive.. took about 10 days to clear as well! Maybe because it's a little unusual for my account, perhaps if they're coming in regularly it would be quicker.

    But that Citi Bank account looks great.. for this and also travelling, spent about a £100 on fees last time I went to thailand.

    Looks like I'll be paying the £8 monthly charge though, haven't quite reached 20k in savings yet
     
    Last edited: Apr 15, 2012