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 is credited to the account on the third working day. There’s a fee depending on the amount of the cheque. We’ll initially credit the cheque to your account – but the bank that’s issued the cheque may choose to unpay it at a later date. In this case, we’ll debit the money from your account.

With cheque collection, we wait until the cheque has been cleared and the funds obtained from the bank before crediting your account. This takes on average about 4-7 weeks. There is also a fee.

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