Stueyb

Hi peeps,

Hopefully a straightforward question. I have about $8,000 USD in cheques, as in cheques in my hand, for about $1000 a piece. Where can I cash them and get the best return on them, even though its like 1.9 $ to £1

MattN

A bank?

MattN

Sorry I mean, ask a bank and get an idea of the value, maybe setup a USD account and buy a shed load of stuff from the states! :

Stueyb

Well ideally I want to convert it to £ sterling. The reason is this is commision sales on "sites" and I could use the cash now. But Barclays for instance want ~ £200 to cash them at $1.95 to the £ sterling

Richard130875

I had the same problem with my US tax return. Spoke to my bank (Natwest) who said I could just put them into my account and they would cash them. Would take 28 working days but no charges apart from the currency conversion.

gareth123

Citibank have a dual USD/GBP account where can transfer money back and forth between the two currencies without penalty.

deanimus

I have cashed USD cheques with HSBC, they charge me £8 for the service.
Can't remember if it was £8 for all the cheques or each :s

gregh

citibank was the best answer I found, it's free as long as you keep >= £2000 in the account. No charge for paying in $ cheques.

regards,

greg

TelBoy

Cheques limit your options to cashing them in at a bank i'm afraid, and bending over for the tourist conversion rate they'll hit you with. Or, as has been mentioned, set up a USD account and buy a bunch of stuff on Ebay from the Sates - it's unlikely to be much cheaper than now!

Stueyb

I just found the citibank thing. Looks a gooer. Ill report on progress. Cheers all

richardg

my other half has dividend cheques from ibm shares in usd and has had a similar problem (ie each one would cost almost what it's worth to convert it to sterling in a uk bank) - i'll tell her about citibank though and hopefully she can finally cash them!