Is there a UK Bank which will accept dollar cheques
By shelagh77
@shelagh77 (3643)
October 25, 2007 6:45pm CST
I am approaching pay out on a site which sends a cheque. This is non negotiable. Problem is that my bank will not clear a cheque made out in dollars.
Does anyone in the UK know of a bank which will bank and accept cheques made out in dollars, and whether the cost of this service is so prohibitive as to render them useless?
Many thanks for all your helpful posts.
2 people like this
4 responses
@Eskimo (2315)
•
27 Oct 07
The site I used was Auctionchex at http://auctionchex.com/ The administration fee they charge is 95p per batch of cheques. They accept $U.S. £, Euros and South African Rand. They use interbank exchange rates which may differ considerably from currency exchange rates. (I think it is $2.40 to £1 at the moment). Example $10 will get you £3.22 (£4.17 - £0.95).
It is several years since I used this, but I got my money in a few days. This is probably better than using a bank if the amount is less than about $30, as most banks will take that amount in fees anyway.
Hope this is of help to you.
1 person likes this
@shelagh77 (3643)
•
11 Mar 08
Thank you, I shall look into that. I sent the cheque back and am going to wait until I have built up more cash so that the charges do leave some money but this site does look rather good.
@PetiteAemie01 (100)
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26 Oct 07
hello shelagh77, try Halifax... i freind works from site and earning dollars cheque, and she doposit it to her halifax bank, they do ask some questions regarding the cheque like who sent you the cheques and what kind of work you doin something like that, and it takes 14 to 28 days to clear but that is 5 months ago, im not sure now if they still doin it...
1 person likes this
@shelagh77 (3643)
•
11 Mar 08
Thank you, I sent the cheque back and am going to wait until I get a larger amount so I get something after charges and I am going to approach the Halifax, so wish me luck!
@Eskimo (2315)
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26 Oct 07
I've had some cashed by LLoyd's TSB, but there was a charge for this, most of the big banks should cash them for account customers (probably not those which converted from building societies though). Nationwide charges £12 or £20 depending on the way that the cheque is cashed, and should be paid into a Flexaccount.
I found another site which cashed one for a much lower charge than TSB. I can't remember what it was called (as I'm at work just now), but if I can find it tomorrow I'll let you know.
@shelagh77 (3643)
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11 Mar 08
Thank you, I have tried both of those and nearly fainted at the charges. I am going to try the Halifax but if you do remember the site I would love toknow which one it was.
@barehugs (8973)
• Canada
26 Oct 07
The Currency of Canada, and United States are both in Dollars. Each countries Dollars are of different values. You didn't say which dollars you have. If its Canadian dollars check out the Canadian Banks with Branches in the Uk. Bank of Canada, Bank of Montreal, Bank of Nova Scotia, are some that have Branches in the UK.
@shelagh77 (3643)
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11 Mar 08
It is American dollars, but it may be worth my while checking if there is an American bank over here which will accept the cheques. I do not get many in dollars and I would be happy to treat them as long term savings as long as I can avoid charges just to cash them.