Welcome to WebmasterWorld Guest from 188.8.131.52
Forum Moderators: martinibuster
I received 2 cheques (in Germany) from Google for $175 & $250 The cheques had to be cashed with Citibank Germany who in turn sent them to Google citybank Delaware, and they charged me $150 to cash the cheques!
Surely that cannot be right?
I don`t want to know how much you earn through Adsense, but i would be grateful to find out the general amounts you pay per cashed cheque.
joined:July 21, 2000
Even before, that I only paid £5 per cheque to pay $ into a Sterling A/c via First Trust Bank. $150 is waaay too much!
Thats why I'm moving over to them. Just paid a four figure adsense cheque in and was charged £15 and had to wait 28 days. Going in to see Lloyds today.
I've also just opened a US$ account with BofS and haven't got a paying in book so it seems a bit useless!
I find this intensely annoying. I just had a cheque from a US client clear today, it was lodged on the 9th of January. Not only did the money disappear from her account 5 days after I lodged it (meaning the bank had it, free, for 23 days before they paid me) but she had the actual physical cheque in her hand more than 2 weeks before I saw the money.
If anyone in Ireland knows of a bank who are a bit more speedy please tell me!
Non-sterling, non-euro cheques
Up to £50 £4 per cheque
£51-£200 £6 per cheque
£201-£500 £8 per cheque
£501-£5,000 £14 per cheque
£5,001-£10,000 £20 per cheque
£10,001+ £30 per cheque
I'm not sure what they charge in Ireland - but I would've thought it'd be something similar. You're obviously sending your cheques for collection rather than negotiation. Collection means you don't get the money till it has cleared.
If you get a lot of cheques from abroad (eg more than ten a week) (and have payments for America too) - it can be worth opening a US dollar account and lockbox. The way a lockbox works is this:-
Places sending you cheques post it to a PO Box number for an HSBC address in New York - they then present your cheque for payment in the US. Copies of cheques and any supporting documentation supplied by purchasers are forwarded to you by first class post, airmail or, at an extra cost, by courier. Cheques are cleared in your US dollar account on the day that they're received by HSBC. The charge for this is only £4/ month plus a £40 monthly maintenance fee. However it does save you all the time of going to the bank and paying in cheques....
It seems they don´t like small checks that aren´t in the country´s original currency.
I've got a Dollar account on Isle of Man. Maybe I should start to bank the cheques there!
Find out what their charges are, varies a lot. My bank in the IOM doesn't charge for depositing into my $US account dollar checks which are negotiated (checks under $5k), the money is available in 7 days, and with really large minimum balances a US$ debit card is available.
Checks forwarded for collection may have charges from the drawing bank. I switched to my current bank when the previous one starting charging $10 for every check deposited a couple of years ago, so some do charge more, shop around.
I used to cash my checks at a financial house and bank at 2% and money is received in CASH in the same moment if the check was in name of a US bank (I only received 1 in name of a US company and they payed me in cash also in the same moment because I had no problems with them before).
Now if you go to some down-town trade houses, they buy the checks at 1%, cash in 1 minute, no matter where are you from.
Now if you wanted to cash some US checks just after The Arentinian "little financial problem" that limited Funds transfer to other ****ries, US checks were WANTED and the used to pay you up to 5% more than the check value!
Now I have a US first-class bank account for non-residents opened from here, so I mail them the checks, and there is no charge at all, plus I can use direct deposit and transfers too.
You definitely need to shop around. There are many banks in Germany, and many foreign banks too, so you're bound to find a better deal. Ask if they charge per valuta or per check, because it can make a big difference. If it is per valuta, you can let the small checks ride on a back of a big one.