Drumbeat Posted July 21, 2022 Share Posted July 21, 2022 I have recently received a tax refund of 325 pounds from the Inland Revenue. As I haven't had a UK bank account for about 30 years and they wouldn't deposit the money into an overseas account I asked them to send me a cheque. However I now find out my bank no longer accepts foreign currency cheques. I was hoping not to have to use a family members UK bank but are there any other options? Quote Link to comment Share on other sites More sharing options...
Marisawright Posted July 21, 2022 Share Posted July 21, 2022 1 hour ago, Drumbeat said: I have recently received a tax refund of 325 pounds from the Inland Revenue. As I haven't had a UK bank account for about 30 years and they wouldn't deposit the money into an overseas account I asked them to send me a cheque. However I now find out my bank no longer accepts foreign currency cheques. You're joking! I'm used to banks charging extortionate amounts to bank a foreign currency cheque, but to refuse to accept money -- how ridiculous. Quote Link to comment Share on other sites More sharing options...
Ken Posted July 21, 2022 Share Posted July 21, 2022 6 hours ago, Drumbeat said: I have recently received a tax refund of 325 pounds from the Inland Revenue. As I haven't had a UK bank account for about 30 years and they wouldn't deposit the money into an overseas account I asked them to send me a cheque. However I now find out my bank no longer accepts foreign currency cheques. I was hoping not to have to use a family members UK bank but are there any other options? You could open an account with Wise. They don't take cheques but they do give you a UK sort-code and account number (as well as Australian, Belgian for your Euro and US for USD account details should you need them). Unfortunately you would need to return the cheque to HMRC and ask them to deposit into your "UK" bank account. Definitely would be the cheapest way of converting your cheque into AUD too as even if you find a bank that will still accept a foreign cheque it's going to charge a fortune to do so. 1 Quote Link to comment Share on other sites More sharing options...
Drumbeat Posted July 22, 2022 Author Share Posted July 22, 2022 12 hours ago, Ken said: You could open an account with Wise. They don't take cheques but they do give you a UK sort-code and account number (as well as Australian, Belgian for your Euro and US for USD account details should you need them). Unfortunately you would need to return the cheque to HMRC and ask them to deposit into your "UK" bank account. Definitely would be the cheapest way of converting your cheque into AUD too as even if you find a bank that will still accept a foreign cheque it's going to charge a fortune to do so. Thanks Ken, it's good to know about that option. I think as this is a one-off I'll resort to asking family this time. Quote Link to comment Share on other sites More sharing options...
Ken Posted July 22, 2022 Share Posted July 22, 2022 6 hours ago, Drumbeat said: Thanks Ken, it's good to know about that option. I think as this is a one-off I'll resort to asking family this time. Might be quicker as there's no telling how long it will take HMRC to cancel the cheque and make the payment. Presumably you've sorted a way for your family member to transfer the money to you without losing a chunk in bank charges? Quote Link to comment Share on other sites More sharing options...
Drumbeat Posted July 22, 2022 Author Share Posted July 22, 2022 1 hour ago, Ken said: Might be quicker as there's no telling how long it will take HMRC to cancel the cheque and make the payment. Presumably you've sorted a way for your family member to transfer the money to you without losing a chunk in bank charges? I spoke to the IR today and they will only send a cheque to a nominee (my sister). To be honest I haven't been worried about bank charges. Quote Link to comment Share on other sites More sharing options...
Ken Posted July 23, 2022 Share Posted July 23, 2022 16 hours ago, Drumbeat said: I spoke to the IR today and they will only send a cheque to a nominee (my sister). To be honest I haven't been worried about bank charges. Use a service like Wise (there are many transfer companies to choose from but I find them the easiest to use) and you'll receive a lot more dollars in your account than if your sister just transfers from her bank straight to your Australian bank account. 1 Quote Link to comment Share on other sites More sharing options...
Ausvisitor Posted July 26, 2022 Share Posted July 26, 2022 Or leave it with your sister and get her to buy a few Christmas pressies or birthday pressies for your other UK relatives in your behalf to use up the cash. Quote Link to comment Share on other sites More sharing options...
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