Crazy charge with PTSB to lodge US cheque

P

paperclip

Registered User
Messages
336
I sent a US cheque home, to be lodged into my PTSB account, it's only $200.

My mother went down to the bank and they said it would cost $80 to lodge it, WTF?

How can it possibly cost this?

Is there a better alternative?

Cheers
 
i think his point is cash it in the US and transfer home with paypal.
 
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.
 

Ye, it's possible, I'll give them a call when they're awake
 

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?
 

That's nuts! Can't electronic transfer
 
Ok, just talked to PTSB, and it's isolated to them, NOT Irish banks... so I'll just have to wait until they get their act together.

Update, they're not getting their act together, they will be charging these extortionate charges from now on!
 
I assumed that you lived in USA and were sending home a cheque,(seeing as you said you were sending a US dollar cheque home).In those circumstances,lodging the cheque to your checking account and paypal-ing the money over to your parents account would be the way to go.
 
Can you not do electronic transfers?
Click to expand...
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.

However cheques into BOI seem more straightforward for me, from what I remember I just get the poor exchange rate.
 
Would wiring the money work? Via Western Union I think. Or would a bank draft help. If it's the bank that's the problem, how about sending letting your mother lodge it to her account and then transfer it to the PTSB for you.
 
You must log in or register to reply here.
Menu
Log in
Register