Banking a USD cheque

[craig]

Does anyone know the best place to change a USD cheque into GBP?

I usually use my high street bank but I'm sure the rate they give me is rubbish.

Thanks for any help

Craig

[G Man]

Craig

Did this at a while back, at Barclays, the cheque is banked and they look for the best international exchange rate. This is not tourist rates, so takes about 7 days to tell you UKP conversion

Gareth

[paolow]

craig, last time i had a dollar cheque, i paid it into what was the 'yes' bank, who took 6 (yes 6) weeks to clear it which was apparently standard for a foreign chq.
So, you may want to check clearing times, though, to be fair, what else can you do with it?
also, somewhat unfortunately for you, the exchange rate is really bad for you ATM - have you looked recently? its $1.93 to the £.
you may therefore want to hold fire - BUT bear in mind from what i hear - if true - the dollar traditionally weakens against the pound in dec so maybe take your money and run now?
Note - im not a financial adviser etc - as ever DYOR but at the very least - check cheque clearance times before banking the thing...

[SGirl]

I bank with First Direct and I normally just pay USD cheques into my cheque account. They clear in about a week and the rate seems okay.

[just dave]

I am available to help in the conversion of USD cheques into more convenient materials.

Email me for where/how to post your troublesome items.

Your friend,

Prince F'geda Bou'det,

Lagos, Nigeria