US Dollar Cheques

D

DavieJones

Registered User
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Is it possible to lodge US Dollar cheques in Ireland? If so, how and where? From my enquiries, it can only be done at huge cost.
 
I did it at my local BoI branch. It is not a robust process, the forms for cheque deposit don't have a $ option so I had to scribble out Eur and write $. The cheque was then sent to the FX team who would convert at the prevailing exchange rate.

I could not book the exchange rate at the time and bore the 'settlement risk'.

Unfortunately, this was the best option available to me at the time (2018).
 
DavieJones said:
Is it possible to lodge US Dollar cheques in Ireland? If so, how and where? From my enquiries, it can only be done at huge cost.
Click to expand...

I had a nightmare of a time trying to lodge dollar cheques received as wedding presents. I wouldn't even attempt it with PTSB.
In the end, i had to get a relative to lodge my cheque to their BOI account and send it to me by ETF. It worked out much cheaper than through PTSB.

Is their any way you can ask the cheque drawer to send you the funds a different way e.g. ETF straight to your bank account?
Or if both parties have Revolut, it will be really easy, fast, and cheap.
 
lledlledlled said:
I had a nightmare of a time trying to lodge dollar cheques received as wedding presents. I wouldn't even attempt it with PTSB.
In the end, i had to get a relative to lodge my cheque to their BOI account and send it to me by ETF. It worked out much cheaper than through PTSB.

Is their any way you can ask the cheque drawer to send you the funds a different way e.g. ETF straight to your bank account?
Or if both parties have Revolut, it will be really easy, fast, and cheap.
Click to expand...
Thanks very much, I'll look into that.
 
We got dollar cheques as wedding presents also. We are both with PTSB and they charge €100 to lodge a foreign currency cheque, or so we were told, no matter the amount. We always lodge them with our credit union, they charge the same amount of commission as when you get foreign currency from them. The rate to sell cheque is usually the worst rate of foreign exchange however. Has to be black ink too (according to my CU)
Apparently BoI do it no issues, no charges.
 
Credit Union is the best place but they do take a month to clear in your account
 
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