Subject:
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US Dollar bank account in the UK (was: UK prices of Star Wars)
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Newsgroups:
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lugnet.loc.uk
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Date:
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Sun, 31 Jan 1999 16:54:25 GMT
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Viewed:
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1202 times
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Richard Dee wrote in message ...
> On Wed, 27 Jan 1999 08:25:49 GMT, Steve Scott uttered the following
> profundities...
>
> > £5 per cheque. They couldn't tell me if the standard charges would be
> That's a bit steep! A fiver!
>
> > On a related theme, does anybody have a dollar account either with a UK • bank
> > or a UK branch of a US bank? Presumably the latter is the best option,
> > removing the usual service charge for foreign bank cheques.
> My father has a US dollar account with a US bank which qualifies
> as a US-based branch as it is on a UK-based US military base.
> Hence, I can accept US Money Orders as well as cheques without
> charge. Problem is my father only visits rarely.....
Account charges:
Nat. West.: 10.00GBP per quarter
Midland (HSBC): 70.00GBP per annum
...plus charges to bank and write each cheque...
OTOH, if you pay US Dollar cheques into UK banks:
Midland: 4.00GBP per cheque, exchanged at 1.65USD to 1.00GBP - cleared funds
available next working day!
Halifax: 1.00GBP per cheque minimum up to 8.00GBP per cheque (sliding
scale), exchanged at 1.70USD to 1.00GBP - cleared funds available after 3
working days.
For both Midland and Halifax, cheques are banked by 'negotiation' (as
opposed to by 'collection'). Negotiation applies to small cheques drawn on
particular countries (although a 500.00USD cheque I received was still
considered 'small')...
I looked onto various options a couple of weeks back, and decided that I'd
just stick with Halifax and Midland depending on cheque value and speed of
clearance required...
Your local high street banks should have someone who can help, or at least
get paperwork sent out to you 8-)
Jon.
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Message has 1 Reply:
Message is in Reply To:
 | | Re: UK prices of Star Wars
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| On Wed, 27 Jan 1999 08:25:49 GMT, Steve Scott uttered the following profundities... (...) That's a bit steep! A fiver! (...) My father has a US dollar account with a US bank which qualifies as a US-based branch as it is on a UK-based US military (...) (26 years ago, 30-Jan-99, to lugnet.loc.uk)
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