Cashing of UK cheques in Germany

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I've a friend who owes me some cash and says he can't transfer the money with HSBC online banking to my account here. So he said he'd send me a cheque instead. Would I have any problems with cashing this here into my account?

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It will cost you an arm and a leg, thats for sure.

 

Banks used to charge up to the equivalent of about 20 euro in "handling fees" for the old EC Eurocheques... I'd hate to see what they would charge for an ordinary cheque nowadays.

 

Why can't he go into his bank branch and transfer it from there??

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cheques are practically unknown here in Germany. The bank will probably charge a hefty fee for such a strange transaction (and ask if they can place the cheque in a glass case in the national banking museum afterwards).

 

why cant he just make a direct debit transfer. So much simpler.

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German Banks stopped using cheques in January 2002. I deposited a large cheque a couple of months later and was charged a 20 Euro fee. I expect it has increased since then. If you use a bank transfer you will be charged fees both in the UK and Germany.

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If it is less than GBP 500 then he could send online via Western Union. Charge for 500 GBP would be GBP 37.

 

You should be able to collect at any of these places.

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cheques are practically unknown here in Germany.

Not exactly true. Many companies, and the Finanzamt still tend to use cheques when refunding monies.

Any time I have de-registered my car in Germany, I have always received tax refunds in the form of a Verrechnungsscheck (crossed cheque)

 

 

German Banks stopped using cheques in January 2002. I deposited a large cheque a couple of months later and was charged a 20 Euro fee. I expect it has increased since then. If you use a bank transfer you will be charged fees both in the UK and Germany.

Me thinks you have got national cheques mixed with the Eurocheque.

The Eurocheque was a cross-border cheque, done away with in 2002 in favour of cross-border electronic payments. If National cheques were done away with, then someone at the Deutsche Bank has been asleep, 'cos I've cashed in a number of the things since 2002 - the last one in November 2005 ;)

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Yes you are right, I meant Eurocheques. The bank stopped issuing them for customers use in 2002, they are no longer valid for paying for goods.

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If it is less than GBP 500 then he could send online via Western Union. Charge for 500 GBP would be GBP 37.

 

You should be able to collect at any of these places.

After the amount of scams I have heard about -particularly on sites like Autoscout24 or ebay- involving Western Union, I would personally avoid using that crowd...

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That's nothing to do with the Western Union system itself. Jester is not at risk since he is not exchanging money for goods or services. He is receiving the money, not sending it. Western Union is just a remote way of sending cash. Not good for Ebay but good for transferring money quickly to family or friends in distant places and much more secure than posting cash. ;-) When you receive the ID number from the sender you can collect the cash at any Western Union agent. If the ID number is false then you don't get the money...i.e. they still owe you the money just the same as is the case previously...

 

And the advantage is, the lazy git can do it online with a credit card. So he doesn't even need to get off his arse. I wonder what his excuse will be this time... :blink:

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Or what about using PayPal? Assuming both of you have PayPal!

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Not exactly true. Many companies, and the Finanzamt still tend to use cheques when refunding monies.

Any time I have de-registered my car in Germany, I have always received tax refunds in the form of a Verrechnungsscheck (crossed cheque)

Thats true. I too have received cheques from the Finanzamt for tax refunds (ah those were the days). But domestic customers hardly seem to use them or come across them otherwise. Bank accounts dont come with them.

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Bloody hell. looks expensive no matter which way it's done!

He's going to his local branch to do it. Can't see that being a problem, prob cost him a bit though.

Why is it so expensive, can't just be the exchange rate? I've transferred money recently to Ireland from here and it cost nothing with my online banking.

Is there any expense involved in withdrawing money from your Paypal a/c?

Not sure if he has one but I have, good option that I didn't think of, only ever used it for paying for whatever.

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he can't transfer the money with HSBC online banking to my account here

sounds a bit suss to me, if he banks online of course he can pay the money in to your account.

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The Eurocheque was a cross-border cheque, done away with in 2002 in favour of cross-border electronic payments. If National cheques were done away with, then someone at the Deutsche Bank has been asleep, 'cos I've cashed in a number of the things since 2002 - the last one in November 2005

I think a lot of people are asleep at Deutsche Bank. I could tell some stories about the cock-ups Ive had with my account there over the years!

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Nah, no GB account.

The Western Union transfer looks interesting. I've an a/c here with Postbank who handle these transfers so would be easy to get the cash and put it in there. Has anyone used it?

What's the process and fees like?

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I get paid by a number of companies not based in Germany, primarily the USA and the UK, and they do transfers from their bank to mine and each transaction costs me E12-E15 which kind of annoys me as I'm putting money into their bank which they are using to invest to make a profit. I used to get paid by a company in Florida who were based in Nevada for tax reasons and they used to send me a check each time which I had to pay in. The amounts were always different and the bank used to question them (they were reasonably high) as they thought I was either doing something dodgy or was a gambler in Las Vegas. What really pisses me off about my bank is that when I'm in the red they charge me extortionate interest (I have a business overdraft which has a higher interest rate) but when I'm in the black they're all over me with offers to invest my money.

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