Cashing US cheques

February 4, 2007 4:40 PM

How can I cash a US$ cheque quickly in the UK? My bank has said it will take 3 weeks and will charge £15 per cheque (I have two for $3k each). Any ideas how to do this quicker (can't get new ones)?
posted by Mossy to work & money (6 comments total)

It would probably be faster to have the person who wrote the check cancel the check, then wire you the money.

IIRC, a wire from the US to Italy takes around a week to clear.
posted by b1tr0t at 4:58 PM on February 4, 2007

recently
posted by cillit bang at 5:16 PM on February 4, 2007

Surely there are cheque-cashing businesses in the UK? They'd charge a steep fee but would give you cash on the spot.

(Money Mart is the largest business in this area here in Canada. From their web site it looks like in the UK they go by the name Money Shop)
posted by winston at 7:44 PM on February 4, 2007

I found out Nationwide will usually clear it in 3 days if you have an account with them. I've banked 2 cheques with them from Amazon US. They girl at the counter said it could take up to 6 weeks, but then each time I got a letter in the mail saying they are going to make the money available to me but could potentially reverse the transaction if the cheque bounces.

I don't know if this is standard operating procedure or if it something special the bank offered me, or the good standing of a cheque with Amazon.com written on it so your mileage might vary.

Also they have the lowest fees out of any Bank in the UK I found and the best exchange rate.

(Mr goo)
posted by goo at 1:51 AM on February 5, 2007

HSBC cash mine for £14 each, but deposit the money into my account on the spot. Usually they're my own US$ checks, but not always.

I think this may be to do with their US presence, or maybe not.

Of course, if the check were to fail to clear, they'd want the money back with all sorts of nasty fees.
posted by blue_wardrobe at 12:37 PM on February 5, 2007

Although I have never had occasion to use them myself Auctionchex have an excellent reputation and may well be cheaper than other options. This page has what you want. If you are wary of entrusting them with a large amount then do a search of eBay UK's International Trading Help forum.
posted by Dr.Pill at 1:30 PM on February 5, 2007