TheLostPhotographer

I have no other option than to receive a cheque in Sterling here in Spain. Does anyone know of the most cost effective way to bank/cash it here?

Not a huge amount, but commisions etc are worth considering. Do Spanish banks charge extortionate fees?

Mitzyboy

I can think of a way, but not sure if you'd like it!

TheLostPhotographer

I'm far to trusting. Tell me more

Pain in the ****ing ...

I'm in a bit of a fix. Down to my last couple of Hundred. Have to get to Seville (from Leon) to collect my passport (boring story), then get back to Granada to collect my cheque (in Pounds), then find the most economical way of converting it into €'s before I can move on to my next project.

Nice here in Leon in August. A perfect 26 Degrees with a fresh breeze. Well worth a weekend visit

Mitzyboy

Ah, in that case probably not as it involves sending the cheque to the UK, signed over, paying it in at a bank and then transferring it back in euros by contacting the currency company ... probably too long a process.

Even so, paying it in at a Spanish bank will take a while before the funds are cleared, as the cheque has to go through the UK bank be cleared etc

TheLostPhotographer

I haven't used my UK accounts for over 2 years and suspect they will be closed, or frozen, or summat.

Think I have no option other than paying into Spanish account. At least the exchange rate is a bit more favourable now even if the F******* are likley to charge an arm and a leg.

Cazzy1

Take it to Gibraltar

Mitzyboy

Just bear in mind it can take quite a time for it to go through the system, so it wont be instant money

missile

Banks do not usually close dormant accounts unless you tell them to. Telephone or online banking will confirm your accounts are active. Many UK banks have branches in spain, they may be able to help.

Failing that, AFIK the qickest (and cheapest) way to gain access to the funds would be to post the cheque to your UK branch ask them to credit funds and draw it out via a cash machine in spain.

TheLostPhotographer

Thanks for the replies.

I need to dig my PC out of storage to find account numbers and passwords etc for UK banks. That sort of makes the most sense.

I can survive on pasta and frito for a couple of weeks

Cats-R-Us

Just paid in a UK cheque to my account in Caja Rural. On 750 Pounds Sterling they charged: Comision de negociacion 5% = 4.56 plus Comision de cambio compra min: 6.01. Total charged 10.57 euros (don't know how much I can pay in before they charge more than 6.01 - I paid in 1,000 pounds in May and it was 6.01 for that too). Both times it took 8 days (including weekends - not working days) to be available. Hope this info helps.

TheLostPhotographer

I don't quite understand where the 5% = €4.56 comes from, but that actually sounds good value, and 8 days is not to bad.

Thanks.

I'll ask around the Spanish banks and open a new one if it saves some cash. I currently have an account with Banesto which I hardly ever use. Expensive f******!!!

missile

I took it to be 0.5%
If you open an account with Barclays, there are zero charges for paying in a UK cheque and you get business rate. Search for the thread on bank charges

fionamw

Eight days to clear would be brilliant ... be aware it can take a lot longer. A neighbour warned us it could be a couple of weeks, in practice a recent cheque took between 5 & 6 weeks - UniCaja. No amount of incredulity, request, cajoling, etc., made any difference. Just be aware.

lynnxa

yes, that's happened to us on more than one occasion & with more than one bank

once was even a cashiers cheque paid directly into the branch here

elspeth sinclair

Maybe you should open a Spanish bank account. When my husband brings money from Britain he writes himself a cheque from the Royal Bank of Scotland and puts it in his Bancaja account and it is immediately credited and is much cheaper than the hole in the wall.-