• 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


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