Barbel Bob Posted January 12, 2009 Share Posted January 12, 2009 Hi all,We have a cheque in pounds sterling and are wondering what would be the best to do with it:a) Put in our French bank accountb) Put in our English bank account then transfer the money to euros using a Currency transfer specialist?I have not got the time to pop into the bank today for a quote and have not registered with a transfer specialist to get a quote yet, so am afer just general advice?ThanksJulie Link to comment Share on other sites More sharing options...
Will Posted January 12, 2009 Share Posted January 12, 2009 It depends on the size of the cheque. You could easily pay 20-30€ in charges or taxes for a French bank to process a non-French cheque. To transfer it from an English bank to a French could cost about £8 to £20, depending on the bank. A currency transfer specialist will probably do it without charge but may not (though many will) offer as good an exchange rate. Link to comment Share on other sites More sharing options...
united Posted January 12, 2009 Share Posted January 12, 2009 We pay sterling cheques into our French Bank when we want to transfer sums under the currency specialist minimum and the charges are as Will said. The exchange rate our bank uses is compares well with the specialists. Do not forget to sign the back of the cheque. Link to comment Share on other sites More sharing options...
andyh4 Posted January 12, 2009 Share Posted January 12, 2009 As Will says the charges are likely to be high paying into a French account - and not including the exchange rate loss. I would be tempted to put it into a UK accound and drawn down the cash at holes in the wall if the sum is not overly high. Link to comment Share on other sites More sharing options...
Barbel Bob Posted January 12, 2009 Author Share Posted January 12, 2009 Hi,It is quite a large cheque, Does a French bank charge 20-30euros no matter how large the amount, is this a set fee? And what is the 'currency specialist minimum' mentioned above?Seems cheapest way will be to cash it in the UK and transfer it across though this may not be the quickest or most convenient, so wish it was last year when I would of got soooooo much more for my £ [:(]Thanks to all who have helpedJulie Link to comment Share on other sites More sharing options...
parsnips Posted January 12, 2009 Share Posted January 12, 2009 [quote user="Barbel Bob"]Hi,It is quite a large cheque, Does a French bank charge 20-30euros no matter how large the amount, is this a set fee? And what is the 'currency specialist minimum' mentioned above?Seems cheapest way will be to cash it in the UK and transfer it across though this may not be the quickest or most convenient, so wish it was last year when I would of got soooooo much more for my £ [:(]Thanks to all who have helpedJulie[/quote]Hi, Credit Agricole charente-maritime deux-sevres charge 0.12% with minimum charge18.50€ and maximum 95€. Link to comment Share on other sites More sharing options...
hoverfrog Posted January 13, 2009 Share Posted January 13, 2009 ask your local bank manager.YMMV - actually your mileage WILL vary! :)Done both - depends on their mood on the day usually...Ask, it costs nothing. Link to comment Share on other sites More sharing options...
united Posted January 13, 2009 Share Posted January 13, 2009 The minimum for the specialist I use, Moneycorp, is £5000 they do say they can be flexible on this but I have never tested this. Link to comment Share on other sites More sharing options...
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