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They probably want to send it for "special collection". I am sure if it is lodged into your account like any other cheque it will clear normally but over a longer time. How do people deal with small $ dividends that they get. There is something wrong with what your mother was told or heard.
They probably want to send it for "special collection". I am sure if it is lodged into your account like any other cheque it will clear normally but over a longer time. How do people deal with small $ dividends that they get. There is something wrong with what your mother was told or heard.
All cheques drawn on non Irish banks are sent for special collection by PTSB. There is no choice. PTSB charge 8.50 per cheque plus whatever the agent (bank the cheque is drawn on) charges. US banks are very expensive for providing this service. From what I can remember JPMorgan charge $100 and it is unlikely the agent charge is less than $75.
Can you not do electronic transfers?
Electronic transfer will also have a fee of around 80 dollars on the sending side, depends on the bank, but I'd be surprised if any of them were cheap. Then usually another fee on the receiving side of 5 euro (with BOI). And an exchange rate that'll earn the bank another 2% or so. A 200 dollar transfer would result in around 80 euro being lodged at current rates.Can you not do electronic transfers?