I have received a cheque through from an affiliate but the only problem is it is in $ and me being in the UK I use £. Do I just cash it in as normal or do I need to do anything differently?
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I have received a cheque through from an affiliate but the only problem is it is in $ and me being in the UK I use £. Do I just cash it in as normal or do I need to do anything differently?
Hi Craig!
Unsure if you will be able to cash it as normal, international cheques are usually a pain and since my experience with them I avoid them like the plague.
I know with banks you are charged a hefty fee in advance (I think mine was £13 or something) to put it into the account, I was also required to bring identification and fill out a 2 page long form before being able to put it in - even then it took about 10 days to clear.
Pain!
You can just pay it into your UK bank as normal (have done it myself), but as dave has already said you do get stung with fees. Any way you can get them to reissue the cheque or pay by another method?
These would be good alternatives if possible. Though they might make you wait for the cheque cancellation to be confirmed before issuing another one or sending the funds by another method.Quote:
Originally Posted by baldidiot
For future reference you might ask them to convert the funds from $ to £ before sending them to you. At the very most there might be a slight discrepancy in the amount depending on the exchange rate but nothing as high as the fees mentioned above.
I don't think there should be a problem with your request, we also pay in $ but have converted into € previously when an affiliate requested it.
Hope that helps.
I use these guys: http://auctionchex.com/ for getting USD 'checks' into my UK account. The exchange rate isn't the best by a long shot, but for me it works out better than the conversion charges (and hassle) I would get trying to pay it directly into my account (for checks/cheques of less than a few hundred dollars anyway).
I have used them for some time, albeit intermittently, and it has worked fine. Something to consider anyway!
Interesting! Are there any additional charges or is it built into the exchange rate?Quote:
Originally Posted by RayUK
There was a small charge for linking to my bank account, so they could direct deposit the converted amounts. After that it is just folded into the exchange rate. I think they charge you postage if you want to be posted a GBP cheque rather than have it deposited. The main thing I like is the convenience and speed - I fill out the details online, print out a page which has their address on it for a windowed envelope, sign the back of the USD check and post it, I get the money in my account within a week or so.Quote:
Originally Posted by baldidiot
The FAQ page is here with the costs I mentioned in the first item: http://auctionchex.com/exfaqs-s.html
Which bank are you with. I'm with Lloyds and they cash USA/Non-UK cheques faster than they cash UK cheques and the fee is like £8 no matter how many cheques you put through.
I am with Barclays. It does vary from bank to bank and googling the topic seems to indicate that some people don't have so much trouble paying USD checks direct into their UK current account (perhaps these days?). I know that I contacted my bank when I first wanted to do this a couple of years ago and it sounded like a lot of hassle and expensive at the time.
Thanks for the feedback guys, much appropriated. Looks like I have a few options that I can do.Quote:
Originally Posted by tryme
Yeah I am also with Lloyds also.
I like the idea of asking them to send the cheque in £s if possible too.