How Much your Bank charge?

Few qes for UK residents.

[KiShOrE]

Can anyone from UK tell me how much your bank charge to cashout your cheque? And how many days it actually take to clear the cheque?

Let us know

1. The Bank name
2. The charge ammount
3. How many days it takes to clear the cheque.
4. How much you lose for convertion from US dollar to UK pound?

Thanks in advance.

[tonygore]

Answers:

1 - HSBC
2 - Varies on amount of Cheque
3 - 4 Working Days (although I have an agreement with the Mananager) - in theory it could take six weeks
4 - It varies but on average for the last 10 months, the pound£ has been worth more than the dollar$

The thing is with the new AdSense Electronic Funds Transfer (Beta) I will no longer be waiting/cashing cheques anymore. If your in the UK, then you should sign up now and put this thread to bed.

[david_uk]

Nat West
£10.50
About a week by negotiation.
Never sure that the exchange rate is that good.

[BeeDeeDubbleU]

By coincidence I just got a "Cheque Negotiation Credit Advice" note from the RBs yesterday.

Royal Bank of Scotland
£7.00 commission charge
About one week
Conversion rate 1.9556

Todays exchange rate on XE Com is 1.8683 so they also do what they like with the exchange rate. This is not negotiable. They take the cheque over the counter and tell you that it has to be sent away for processing so they don't even tell you what the exchange rate is going to be. It would appear to be a case of like it or lump it.

[ronin]

Barclays Bank PLC
9.00 commission charge
Anything from one to ten days
Conversion rate 1.9263

It usually takes a week to go through, but for some reason they processed my January cheque (paid in at the start of March) in one day.

[Pedent]

I thought that this was no longer an issue; in the last update of features Google started offering local currency cheques.

Is there a reason not to get your cheque in GBP?

[BeeDeeDubbleU]

None whatsoever and I have already requested that my cheque be sent in GBP.

The Royal Bank of Scotland must be shaking in their shoes knowing that they are going to lose my £7.00 per month commission :o)

[ncgimaker]

Citibank
Free
About 2.5 weeks for US$, 2 days for GBP
No conversion loss (I have a USD account)

I have a USD GBP and EUR accounts with them, transfers between the accounts are free and instant and the exchange rate difference if I transfer from one account to another and back is a few pennies.
A $1000 cheque becomes a $1000 balance in my USD account.

[publish]

Actually, Barclays "Negotiation" has a £4 minimum charge (plus a small percentage), but only if the sum is over £50. Under £50 and it's free.

With a "Negotiation" the money appears in the account within a day or two, but can be taken back if the payment doesn't go through.

You can also do a "Collection" which I believe has a basic fee of £16 and a percentage. That takes weeks to appear in your account.

Exchange rate is competitive (certainly more competitive than getting USD through PayPal!)

[endomorph1]

Abbey National
£10.00 (for 1 or 10 cheques)
Clear on 5th day
Negotiated at banks rate (last chq was about 1.9 USD to £)

[endomorph1]

I thought that this was no longer an issue; in the last update of features Google started offering local currency cheques.
Is there a reason not to get your cheque in GBP?

It all depends on what the exchange rate is that we are given.

Once people have received their first local currency cheques and seen what the exchange rate is, if it is better than I get here, I will change over.

[OptiRex]

Once people have received their first local currency cheques and seen what the exchange rate is, if it is better than I get here, I will change over.

We've thrashed this one to death already! My final post on the subject can be found here:

[webmasterworld.com...]

And I repeat, don't blame me if Google do not adhere to International banking policies but heavens knows why they would not.