I paid a couple of checks into my German bank account a couple of weeks ago. They said they had no idea whatsoever how much the charge will be. The checks are fairly large in value ($10k each) so in % terms the cost might end up being relatively reasonable, but if it's 100EUR or 200EUR it'll still be a pain in the butt. Has anyone here experience of paying US checks into their German account?
I'm looking for an alternative, I've seen that Citibank offer free (or near enough free as makes no difference - e.g. $10) global transfers between citibank accounts. That'd mean I'd need to open one in Germany (no problem now that I'm registered here), and one in the states (shouldn't be a problem as I still have a US social security number even though I stopped working there end of 2006. I don't need to tell them that. Obviously it's annoying opening and closing accounts but if I save [however much the transfers cost] each month it'll be worth it.
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Paying US checks into a German account
Alternative options and what the charges are
I paid €15 when I paid in about $400 and I think that was a fixed fee at Deutsche Bank.
QUOTE (Mariposa @ Apr 4 2007, 11:50 pm) 
I paid €15 when I paid in about $400 and I think that was a fixed fee at Deutsche Bank.
With $400 being about €300 that makes that fee around 5%. If it's a fixed fee then I'd be happy enough. My worry is that it maybe a percentage charge.
It's been over a year now, and I don't live in Munich anymore, but I recall paying something along the lines of a €9 flat rate to deposit an American check at Hypovereinsbank.
QUOTE (Mariposa @ Apr 4 2007, 11:50 pm)
I paid €15 when I paid in about $400 and I think that was a fixed fee at Deutsche Bank.
I paid €15 at my local Sparkasse for 2 US$ checks, they told me when I paid them in that I would be charged a 1.5% fee with
a minium charge of €15 / cheque, but luckly they treated both cheques as one as they were from the same source.
Bill
Yeah, as far as I remember it was a flatrate, not a percentage.
QUOTE (BillB @ Apr 5 2007, 11:08 pm)
I paid €15 at my local Sparkasse for 2 US$ checks, they told me when I paid them in that I would be charged a 1.5% fee with a minium charge of €15 / cheque, but luckly they treated both cheques as one as they were from the same source.
I really hope mine isn't a 1.5% fee, that'd be $150 per cheque (they weren't paid in at the same time). I'm trying to see if this company will pay me direct into a US citibank account. Can't be spending $150 a month on bank fees, it's ridiculous.
Relief ! Finally the check cleared and my bank sent me a letter saying that the fee amounts to 10 Euros (one Fremde fee of 7.5 and one Eigene fee of 2.5). This I can live with
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