How do I pay foreign cheques into my account?

You’ll need to go to a branch to pay foreign cheques into your account.

Depending on where the cheque comes from, and what currency it’s in, it will be deposited into your account through either a negotiation or collection service.

Cheque negotiation lets you use the funds before the cheque has cleared, and the money is usually credited to the account on the third working day after you pay in the cheque (but may sometimes take longer because of public holidays). There’s a fee, which depends on the amount of the cheque. We’ll credit the cheque to your account when you pay it in – but the bank that’s issued it may choose to take the money back at a later date if something isn’t right. If that happens, we’ll debit the money from your account.

Cheque collection means we’ll wait until the cheque has been cleared, and the other bank has confirmed the transaction, before crediting your account. This usually takes about four to seven weeks. There is also a fee.

For more information and detailed fees, call Telephone Banking (if you’re registered) or visit a branch.