Etrade USD cheque (Check ;-)

[tecate]

Got a cheque from Etrade and not sure how but it arrived in USD. Anyway, they can rectify and send out a euro cheque. They charge 3% for this service (presumably before fx rate).


Is it safe to assume that there's no other more efficient option? I assume the irish banks will charge more (and from what I've researched, my bank - PTSB - don't even offer the option to lodge a usd cheque)?

 

[peemac]

I got a couple of them a few years ago. Lodged them into bank account. Was able to use funds but on the proviso that the funds were not considered cleared for 30 days.

Rate of exchange was the "cheque / draft" rate and better than the cash rate.

Even if they send you a euro cheque and its drawn on a us bank, it will take 30 days to be declared clear