XE.com - fees to deposit draft?
Jun 17th 2008, 3:58 pm
#1
Just Joined
Thread Starter
Joined: Feb 2006
Posts: 19
XE.com - fees to deposit draft?
This isn't strictly US-related, but I've had some good advice on this board before about XE.com, so I hope someone can advise me on this.
I sent a friend in Holland a draft in Euros issued by XE. His Dutch bank is telling him that he'll be charged 56 Euros to deposit the draft. I called XE and they told me they have no control over what European banks charge to deposit drafts, which might well be the case, although it defeats the purpose of sending drafts. I've never had to pay any fees when depositing XE.com checks to banks in the UK. Why the fees on the continent?
I sent a friend in Holland a draft in Euros issued by XE. His Dutch bank is telling him that he'll be charged 56 Euros to deposit the draft. I called XE and they told me they have no control over what European banks charge to deposit drafts, which might well be the case, although it defeats the purpose of sending drafts. I've never had to pay any fees when depositing XE.com checks to banks in the UK. Why the fees on the continent?
Jun 17th 2008, 4:09 pm
#2
Forum Regular
Joined: Sep 2005
Location: Andover, MA
Posts: 250
Re: XE.com - fees to deposit draft?
Disclaimer: I have no idea...
Could it be that while the draft is denominated in euros, it is not drawn on a Dutch bank, so if deposited would have to be sent to another country as part of the clearing process?
Could it be that while the draft is denominated in euros, it is not drawn on a Dutch bank, so if deposited would have to be sent to another country as part of the clearing process?
Jun 17th 2008, 6:24 pm
#3
BE Enthusiast
Joined: Nov 2007
Posts: 906
Re: XE.com - fees to deposit draft?
Get your friend to double check with a more senior member of staff as this does not sound right to me.
