Euro Bank Account Charges
22 August 2002, 02:53 PM
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Our office has a Euro account with Barclays. When we deposit Euro cheques drawn abroad (eg France or Germany) we are charged for clearing that cheque. So far we have seen charges ranging from £15 to £50 depending on the size of the cheque.
I thought with single currency, you deposit an ammount in your Euro account, that is what you see on your statement and that is what you can withdraw. May be only a transaction charge, but certainly not some kind of commission.
Are there any bank that don't do that either in the UK or overseas?
Any help appreciated
Alan
I thought with single currency, you deposit an ammount in your Euro account, that is what you see on your statement and that is what you can withdraw. May be only a transaction charge, but certainly not some kind of commission.
Are there any bank that don't do that either in the UK or overseas?
Any help appreciated
Alan
22 August 2002, 06:54 PM
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Controrary to most peoples expectations there is no central european cheaque clearance facility for the euro. When you get a french or german cheque it has to be cleared through a branch of your bank in that particular country and then the money transferred back to your bank in the uk. The system is the same as what would happen for a foreign currency cheque just without the currency conversion.
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