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English Cheque, French bank account.


Quillan
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I am sure I saw something about this somewhere, I did a search but can't find it so I apologise in advance if its been answered before.

Can you pay an English Sterling cheque in to a French bank account here in France if the name on the check matches the name on the account and is this covered by this new European charge thing.

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I think that you are referring to SEPA, and I'm afraid that it only covers euro-denominated payments and electronic or card payments. You will probably be able to pay the money into a French account: however the bank will seriously clobber you with various charges. For example, SocGen will charge 16.74€ minimum for cashing the cheque plus 0.5% of the value of the cheque (minimum 14.00€)  as commission for the exchange rate. Get the sender to do an electronic transfer if possible.

Note that at present, even euro-denominated cheques from non-French banks will cost you money to present and clear.

Regards

Pickles

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[quote user="Quillan"]

I am sure I saw something about this somewhere, I did a search but can't find it so I apologise in advance if its been answered before.

Can you pay an English Sterling cheque in to a French bank account here in France if the name on the check matches the name on the account and is this covered by this new European charge thing.

[/quote]

yes you can. No problem.

The charges will differ depending on your bank, the value of the cheque, if there's an 'r' in the month, and if the bank manager fancies you :)
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I regularly have to do this the other way round - deposit a French cheque in euros into my UK sterling bank account.

I have to fill up a lengthy form, and my UK bank charges me a flat rate of £8 per deposit (i.e. just once on however many cheques I pay in at once), then credits my UK account using whatever is the going exchange rate.

I have not tried doing it the way round the OP is asking about. I have a feeling that the process might cost more in France, and also that the cost might vary from one bank to another. Best to ask your French bank what they would charge, and then build that charge into the price of whatever you are "selling".

Angela
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Loiseau, do you not have a french bank account?

If you do it would be quik and cheap to firstly pay the cheque in, unless it is one of your own ofcourse. Then do a payment via the swift system, costs around €4 and is, in our case in our account the next day and cleared ofcourse. I do these transactions via the internet, but before they had it set up I would just fax the form through by lunch time and we would have it next day.

Q I think that when I once paid a UK cheque into my french bank the cheque had to be endorsed and our address on the back of it, well that was the Credit Mutuel who asked for that, and it took an age to clear. I don't think that the costs were more than any other transfer, just the clearing time was terrible.
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