Quick banking question

[Tomahawk674]

No I don't mean banking as in a turn...

If I send a certified bank cheque from here to someone in the UK, is it likely they'll have to pay a transaction fee over there?

 

[flynful]

Much better to wire the funds.

 

[Henning]

No I don't mean banking as in a turn...

If I send a certified bank cheque from here to someone in the UK, is it likely they'll have to pay a transaction fee over there?

Typically only the currency exchange fee, they will however hold the funds for probably a month, at least that was the deal in Australia when I'd get a check from the US. Best to wire it if there is a time critical element involved. With my USAA account, I can just go online, put in the BSB (routing) and account info, and instantly transfer to any account in the world for free. Citibank may have similar provisions. Funny thing, in Australia, every banks online services give you this, here, it's hard to find, they want to make that $25 wire fee. When I found out that "Bill Pay" by most banks here was done by sending out checks, I would have laughed at the Bedrock Banking methods had they not p-me off at the time.

 

[JohnR]

Paypal it.

 

[bstratt]

The problem is there are so many fake certified cheks out there, while they know who the casher is, they have no idea if the payor was real or not or if they had funds.

Quickest and easiest (although not cheapest)- wire the funds

Next choice - cashier's check or bank draft.