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paying canadian cheque into UK sterling account?

paying canadian cheque into UK sterling account?

Old Feb 7th 2009, 4:04 pm
  #1  
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Default paying canadian cheque into UK sterling account?

hi,

I recently found a canadian cheque for a significant amount in my pile of important documents . i no longer have a canadian bank account and live in the UK. The cheque is dated May 2008. Is it possible to pay the cheque into my regular UK account?

if not, what are my options?

thanks
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Old Feb 7th 2009, 4:11 pm
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Default Re: paying canadian cheque into UK sterling account?

Originally Posted by chanceUK
hi,

I recently found a canadian cheque for a significant amount in my pile of important documents . i no longer have a canadian bank account and live in the UK. The cheque is dated May 2008. Is it possible to pay the cheque into my regular UK account?

if not, what are my options?

thanks
First of all the cheque is now stale dated, that is to say over six months old. You would have to either get a new cheque or have the drawer of the cheque change the date and initial it. When you get a cheque that is OK datewise you can take it to your UK bank and they will send it on collection to the bank in Canada. The UK bank will eventually credit your account with the sterling proceeds less their charges.
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Old Feb 7th 2009, 4:12 pm
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Default Re: paying canadian cheque into UK sterling account?

Originally Posted by chanceUK
hi,

I recently found a canadian cheque for a significant amount in my pile of important documents . i no longer have a canadian bank account and live in the UK. The cheque is dated May 2008. Is it possible to pay the cheque into my regular UK account?

if not, what are my options?

thanks
By Canadian banking rules the cheque is stale-dated after 6 months. You should get a replacement cheque, if possible. I assume that UK banks can accept the replacement item and probably send it on a collection basis.
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Old Feb 7th 2009, 5:03 pm
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Smile Re: paying canadian cheque into UK sterling account?

Originally Posted by chanceUK
hi,

I recently found a canadian cheque for a significant amount in my pile of important documents . i no longer have a canadian bank account and live in the UK. The cheque is dated May 2008. Is it possible to pay the cheque into my regular UK account?

if not, what are my options?

thanks
Hi there..

I paid a canadian cheque into my uk bank account a couple of months ago - Yorkshire Bank current account. There was no problem but they charged me for the privilege and there was a bit more hassle than usual. My account is a joint account and when my husband tried to deposit it in the bank he had to get me to sign something before it could be deposited. I think it cost about£30 or thereabouts. (sorry i can't remember the exact figure)

Hope this helps....
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Old Feb 7th 2009, 5:05 pm
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Default Re: paying canadian cheque into UK sterling account?

Originally Posted by Auld Yin
By Canadian banking rules the cheque is stale-dated after 6 months. You should get a replacement cheque, if possible. I assume that UK banks can accept the replacement item and probably send it on a collection basis.
ok thanks,

i'll try and get the cheque re-issued. Do you know whether it is possible for my canadian boyfriend to add me to his bank account even though i do not currently have residency?

i have canadian taxes to pay so it would be useful to keep this money in canadian dollars rather than switch it back and forth

cheers
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Old Feb 7th 2009, 5:34 pm
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Default Re: paying canadian cheque into UK sterling account?

You can get around not having a Canadian bank account, provided you have complete trust in your boyfriend. When you receive the replacement item just endorse it over to your boyfriend who can then deposit it to his bank account. If you have Canadian taxes to pay he can purchase a money order/draft payable to Revenue Canada for you. Any amount remaining can stay there or he can purchase a sterling draft/money order and send it to you.
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Old Feb 7th 2009, 6:00 pm
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Default Re: paying canadian cheque into UK sterling account?

Originally Posted by Auld Yin
You can get around not having a Canadian bank account, provided you have complete trust in your boyfriend. When you receive the replacement item just endorse it over to your boyfriend who can then deposit it to his bank account. If you have Canadian taxes to pay he can purchase a money order/draft payable to Revenue Canada for you. Any amount remaining can stay there or he can purchase a sterling draft/money order and send it to you.
thats great thanks!
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Old Feb 7th 2009, 7:40 pm
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Default Re: paying canadian cheque into UK sterling account?

I had an account with the Royal Bank for 3 1/2 years before I got my residency. They weren't bothered about that at all.
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Old Feb 7th 2009, 7:50 pm
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Default Re: paying canadian cheque into UK sterling account?

You could open an account in Canada under non-resident status. There would be a 15% N/R withholding tax on interest paid, but given the near zero interest rates these days that wouldn't amount to a hill of beans.
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