Foreign Cheques

What are Foreign Cheques?

Foreign cheques are cheques in a foreign currency or cheques in sterling paid out of an account at a bank abroad.

How do I deposit a Foreign Cheque?

If you want to deposit a foreign cheque, you must “endorse” the cheque by signing your name on the back. Your signature must match the way your name appears on the front of the cheque. (For example, if the cheque is payable to Mr A Smith you need to sign the cheque Mr A Smith). If the cheque is payable to more than one person, each of you must sign the back of the cheque.

How long does it take for a foreign cheque to clear?

The processing times for dealing with UK cheques do not apply to foreign cheques and depends on whether you choose if we “negotiate” it or “collect” it:

Negotiated cheques

This is where we buy the cheque from you by paying you the amount of the cheque or the sterling equivalent on the working day after we receive it. We then credit the funds to your account for you to use. If the cheque is returned by the paying bank as unpaid, the funds will be recalled from your account.

Collected cheques

This is where we send the cheque on your behalf to the paying bank and pay the amount of the cheque or the sterling equivalent into your account on the day we get payment from the paying bank (this can take a number of weeks). We may use an agent to do this.

Foreign Cheques

How much will it cost to deposit a foreign cheque?

Charges depend on whether you choose to negotiate or collect the cheque. These are shown below:

Foreign Cheque Negotiation Charges

Some foreign banks make charges for negotiating foreign cheques which are drawn in a country where the currency on the cheque is not the local currency e.g. USA Dollar cheques drawn in Switzerland. Charges made by foreign banks for this service are not published.

    % Commission
  Minimum Charge 
Maximum Charge Standard Charge

Currency cheques drawn on the United Kingdom or payable abroad except as shown below, and Sterling cheques payable abroad - charges are for each currency, per customer, not for each cheque

From 18th September 2016
For Cash Account customers, any cheque deposited in Sterling from a bank within the EU will not incur a charge

       

Up to and including £100 or equivalent 

     
  £5.00

Over £100 or equivalent 

  0.25%
 £8.00
  £80.00

 

Currency cheques payable in a different country from the currency in which the cheque is drawn - charges are per cheque 

 

 

 

 

Up to and including £100 or equivalent 

     
  £5.00

Over £100 or equivalent 

  0.25%
  £15.00
  £80.00
 
 

Foreign Cheque Collection Charges

Many foreign banks make high charges for collecting cheques. Charges made by foreign banks for their collection service are not published.

 

% Commission

 Minimum Charge 

 Maximum Charge 

 Standard Charge 

Cheques remitted for collection - charges are per cheque - fee payable whether the cheque is paid or unpaid

From 18th September 2016
For Cash Account customers, any cheque deposited in Sterling from a bank within the EU will not incur a charge

       

Up to and including £100 or equivalent 

     
 £5.00

Over £100 or equivalent 

 0.25%
  £15.00
  £80.00
 

Requests to chase whereabouts of payment 

     
  £5.00

 

Call

Call

Bank over the phone 24/7 using our automated service - call 03459 758 758.

Telephone Banking
Visit

Visit

Find your nearest branch or cash machine using our Branch Locator tool.

Find branches