I would be so grateful for any advice on how to avoid losing the value of US dollar cheques/checks sent to me here in the UK.
I am planning to enter into an arrangement with a US bookseller which only forwards proceeds (from book sales) in the form of a monthly cheque ("check") in US dollars.
Preliminary enquiries here in the UK reveal that a monthly cheque/check worth less than 200GBP will cost roughly 4GBP to lodge with a UK bank!
Because US booksellers take about 70% (all substractions considered) from the sale of each book I don't expect that my item is likely to be that rare thing that will sell like "hot cakes", so I will be lucky if the monthly cheque is even worth the 4GBP or 5GBP that UK banks will charge me on accepting it!
A friend suggested I look into "dollar accounts". But preliminary investigation of them reveals that their exchange rates and interest rates are poor.
Is there a way round this . . . other than writing a best-seller!
Thanks.
Ellie.