Is it possible to desposit a US cheque/check (from 2checkout) into a UK bank account?

Thanks :)

Just use the English way Darth, you know it makes sense ! :D

You can deposit US cheques to uk banks - they normally charge £2-£3 depending on who you bank with.

Slightly OT but I was pleased to find that cheques from Paysystems are drawn from a UK bank and are in GBP(£) = no currency conversion charges :)

As for 2checkout - sorry, can't help you ;)

Heard some bad things about paysystems... :(

Very worrying things:eek:

could someone fill me in ? I dont use them but would like to be informed of things like this for future decisions. PM me if you dont want to post rumours etc..

Yes, you can deposit US$ cheques into your UK bank.

Once you hand the cheque over to the cashier, it will either be processed one way or the other:

Collection - cheque is sent off to the international department who foward it to the US bank, funds are collected and then the money is deposited into your account. This can take upto 28days.

Negotiation - cheque is sent off to international department, they work out the value based on exchange rate, deposit the money into your account, this can take upto 7 days. Meanwhile they forward the cheque off to the US bank and collect the money themselves. If it bounces they take the money back out of your account.

In my experience negotiation is used if you have a good credit rating with the bank.

With regards to charges it varies from bank to bank. If you can choose wire transfer go for that instead it's easier and faster , it might cost an extra $30 to send (debited against the value being sent) and an extra ~ £10 to receive (debited against the value being deposited into your account).

With regards to the PaySystems issue, I'd just like to say I've not experience any problems with them.

Check out the post by Aussie Bob not too far down the list:eek:

Yep, loosing about 1k per day, ouch :(. Thanks Matt :)

i just wire it from 2co, but yes of course you can pay it in normallyish. you should get instant credit for an approximate amount but youll have to sign a piece of paper saying your liable for any differences. hsbc barlays natwest loyds etc ive paid usd in fine to em all

Originally posted by Darth
Heard some bad things about paysystems... :(

Heard bad things about 2checkout as well ;)

I think we have all heard something bad about most companies... just quoting "heard some bad things about paysystems" isn't really helpful is it?? I've used PaySystems for almost 2 years and not had a major problem with them yet. Of course I've had some small problems with the system (i.e. 3rd party affiliate system) but nothing I would consider major.

As far as I know (i.e. ain't tried it) you don't have to list your prices in the same currency that you receive your cheques in either.