After suffering high fees to deposit US Dollar cheques into my UK GBP current accounts, I've just opened a Citibank (UK) US Dollar and Sterling Current Account where I am being charged £0 per cheque to deposit in the US Dollar account. However, I am unaware of my options to allow me to convert the US Dollars into GBP Sterling and I'd like the best rate possible with the lowest fees. Volume is £4k-£6k pcm.
Any advice appreciated.
I negotiated a small fee per bundle of checks with my business bank account - bank of scotland. I tend to put 3 months worth in at a time. That works out better for me.
Ask citibank how much it is to transfer it to a UK£ account. It might be dead cheap. Someone said the halifax did free $ exchange on cheques - have a look through this groups archive it'll have come up many times.
I will do that this week.
After some Googling I've found
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