lynetteh

Hubby and I have received in the mail two checks from his late grandmothers estate made out in pounds. Will we be able to deposit these checks here in Oz or do we need to send them back to the UK to our bank accounts there?

simnmax

NAB do it with a fee, I'd check what you'd pay if its a large amount.

commonwealth

try HSBC

lesleys

It's usually cheaper to transfer pounds directly to an Australian bank account rather than get the UK bank to convert to dollars then transfer.

Probably just best to ring around your banks (UK and here) and ask them what they'll charge before you do anything.

so ask UK - how much do they charge to transfer pounds to an Aus account?

ask Aus bank - how much to cash a pound cheque? Any fees for receiving pounds, which they will immediately convert to dollars?

NickyC

If you deposit a sterling cheque into an Oz account (banks will do it) you'll get a rubbish exchange rate, high fees and it can take weeks.

Deposit it into your account in the UK. Then transfer it over to Australia using one of the Foreign Exchange companies. They don't cost much, give far better rates than the banks and you can (maybe) pick the time to transfer it when the rate is in your favour.

DC10

NAB have always done it for me for a fee of - I forget - about $10-$20. Surprisingly, the funds have always cleared instantly (amounts up to about $4000 a time)

You can view the rates on the bank websites

lynetteh

Thanks everyone!! It is not a large amount of money so the exchange rate wont make a real difference, and it is too small a sum to use a forex company from UK to OZ, so I am thrilled to hear that the Oz banks will accept it, for a hopefully small fee.

moneypenny20

If you're really nice and pathetic, the bank [I]may[/I let you off the fee. Comm did with me

lynetteh

I'm going to start practising pathetic in the mirror now!