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They told me it would take up to 30 days when I first talked to them about it, but in reality they clear in 4 days.
They all have so far anyway. I get charged £7 per cheque, which is quite reasonable. It makes no difference if you wait and bank 3 at a time - you still get charged £7 per item.
This is what I do when paying foreign cheques into a UK bank account. No problems at all.
Negotiation is when they pay you before they actually get the money, i.e. they buy the cheque off you for the current rate. If it bounces, you get charged etc. as above.
Collection is where they send it off and you get the money when it clears (although usually this is actually you just not getting the money for 30 days).
We've found a dollar account with 0.25% charge per transaction, where 'transaction' can be a collection of cheques. Min £9 charge. £7 a quarter maintainence fee if balance below $US2000. Cheque withdrawal free, 2% commission when $ exchanged to £.
Does anyone know if you can have cheques forwarded i.e in my case straight to my US bank for deposit? Or do I have to send them myself when I receive them in the UK? Still doing this is cheaper than £7 an item, and no offense but £7 on a $100 dollar cheque is about 12.2% which is outlandish charging! - for instance I would like to get 12.2% of any ad revenue my site generates.. then my cheques from google would be bigger :-)
I also only just started with adsense so no doubt after I read thru' a few more threads I may have some more questions.
As I said I have never tried it out, but the info came from my "Financial Advisor" (read salesperson) who dragged me in for a typical Lloyds 'how can we help you' interview. As I had just started AdSense I asked her about the costs and she looked it up on Lloyds on-line info. She didn't mention it, but the costs may depend on what account you have, Classic, Gold, etc. But she made clear that there were two methods, and that the Collection method was the most expensive. If you get clearance in 3-4 days presumably your cheque is traded at a clearance house.