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How to cash a U.S. cashier's check in Germany

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Does anyone know what the best bank is in Germany to receive American cheques into? The problem is I'm British (so I don't have a US bank account), I work for a US company who currently refuses to pay via any other method than once every two weeks by cheque (I know, it's incredibly frustrating...) and I'm at Berliner Sparkasse. I'm currently being charged 40 euros to pay in a cheque and then 25 euros on top to convert to euros. Surely there's got to be another bank in Berlin that charges less money? If you have any ideas, I'd be incredibly grateful.

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Topics merged by admin

 

I'm British (so don't have a US bank account), live here and I work for an American company. Presumably in order to cut costs, they refuse to pay me via any other medium apart from US cheques, sent every two weeks. I bank with Berliner Sparkasse and am currently being charged 40 euros per cheque to pay it in and then an additional 25 euros to convert the cheque from dollars to euros. This is working out as a fairly substantial % of my take home pay.

 

I know, I know. It's absurd to be paid by cheque in 2016 - but until I find a better work option, could you tell me if any of the other banks in Berlin charge less money to pay a cheque in? 40 euros seems very steep indeed.

 

Thanks in advance for any help you can offer - it's much appreciated.

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I bank at TargoBank, and the last time I deposited a US check (in April) there were no fees for it. At least, I can't find any record in my monthly statement of them charging a fee -- only the line item where they received it and one about 10 days later where they deposited it in Euro into my account.

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Good tip @techgirl    

 

You can look at the list of prices of TargoBank here: https://www.targobank.de/de/download/Preisubersicht.pdf  

 

The costs for drawing checks is on page 8.

 

I couldn't find any mention of a fee for depositing a check.

 

The cost of depositing a check is on page 28. They mention there that they have a spread of 0,003 in their currency exchange (of USD). If I understand correctly that's 0.3%. That seems way too cheap for me. Maybe I'm just misunderstanding it. I'd ask them if there's no charge when depositing foreign checks and if there isn't open an account with them.

 

 

 

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Very weird- everyone is phasing out cheques!!   Check with Targo Bank-  I cannot recall what they charged us for a Canadian cheque a couple of years ago, but  was not as much as that.

 

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