GBP cheque I want to cash

D

dad

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Anybody know how I can cash a GBP cheque thats made payable to me (account payee only). I asked at the bank, they said they will tfr to eur and then back into GBP. Cost of doing that was too expensive. I want to cash the cheque and keep the gbp. Chq is drawn on barclays, if I walked into a Barclays branch would they cash it ?

I go to the UK every few months, so was thinking of opening an overseas bank account in one of the banks. I would like to have an ATM card so I dont ahve to keep transferring eur into gbp.

Any idea's ?
 
I have an overseas account with Barclays in London, I have an ATM card and have had no hassle....I did open the account when I lived in London and have maintained it since I returned to Ireland. As Far as I know you just need proof of address , photo ID etc to open a non-resident account with Barclays.
 
Thks for the replies. Minimum for a gbp account with my bank is 5k or 7.5 k, I would not need that or more to the point I dont have it.

I will ring barclays and see what I can do.

Thks
 
Premanent TSB have Sterling deposit accounts - I don't know the minimum deposit but I recall the rate being under the base lending rate by a percentage point or so.
 
Sign the back of it to endorse to a buddy in the UK and get them to give you cash while they lodge it to their own account.
 
I often lodged small Stg dividend cheques to my account with my stockbroker. They took them no problem and lodged them to my account. The rate they gave me was favourable and they didn't charge commission.


Murt
 
RainyDay said:
Sign the back of it to endorse to a buddy in the UK and get them to give you cash while they lodge it to their own account.
Click to expand...

Probably the best practical suggestion - however you won't be able to do it. The cheque you say is crossed 'account payee only' - so you really only have two options.....

a) lodge to your euro account and incur the the costs of conversion...

or

b) open a sterling account and lodge to same - then withdraw the amount in sterling.

Unless the value of the cheque is considerable, it's hardly worth your while following option b) - however, it's your choice.

Best of lcuk.


BM
 
Opened an account with TSB yesterday, lodged the cheque no problems.
 
Glad it worked out.
What was the interest rate like out of curiosity? They don't post them (foreign currency) on their website. Will they allow you to withdraw it in Sterling notes directly?
 
how much is the cheque for?

if it's an odd amount i.e. £133.78 then you can't expect to get sterling for a sterling cheque in an Irish bank. Given that the lowest value note they would hold is £5.

on the other hand if it's for an even amount then it may be possible to do a straight swap - using a contra rate*

* i.e. buying the cheque at the regular buy cheque rate and selling the sterling currency back to the customer at the same buy cheque rate.
A commission fee is usually levied so that the bank makes something from the transaction but this is nowhere near as expensive as converting to euro and back to sterling.
 
its in the four figures bracket, I dont want EUR as I and mum are frequent flyers to the UK plus the small matter of Cheltenham in March. I want to keep a gbp float and yes,they will give me the notes that I require when I withdraw.
 
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