Foreign cheques: How do I pay them into my account?
A foreign cheque - one drawn on a bank outside of the UK - can be paid into your account using services called 'Negotiation' or 'Collection'. For further information and for details of fees, contact any branch.
Cheque Negotiation lets you use the funds before the cheque has cleared and is credited to the account on the second working day*. There is a fee depending on the amount of the cheque.
Much slower is Cheque Collection, where we wait for an answer from the bank upon which the cheque is drawn before crediting your account with the funds. This takes on average about four to seven weeks. There is also a fee.
* Cheques can still be unpaid by the bank upon which the cheque is drawn at a later date, in which case the money will be debited back from the account.
