Cashing a Euro check in the EU
Posted 21 February 2012 - 11:12 PM
I recently received in the US a Bank Check in Euros from Spain. The small sum (127 Euros) and the large fees (effectively more than 10% of the value) made me think that, if possible, it would be better to cash the check in the EU than in the US.
Unfortunately I am not traveling to Spain anytime soon, but I am going to Rome next week for about ten days. The Spanish bank (Santander) has no branch in Rome, but an on-line search did yield several affiliated banks. The other option might be to sign the check over to one of my Italian friends and have them cash it on my behalf. However I would not want to impose fees and collection delays on anyone if the banking system requires that.
Ultimately this is a practical question about the limits and effectiveness of the EU banking system in handling cross-country checking transactions on the small retail level.
Posted 21 February 2012 - 11:36 PM
Posted 22 February 2012 - 01:55 AM
You might check with them, and see if there's a courtesy agreement to accept Santander's checks. It's possible they have some accommodation, esp for Spanish visitors to the US. Lacking that, you might open a hundred dollar account, then deposit the check, and close the whole thing out in a few weeks.
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Posted 22 February 2012 - 01:01 PM
Posted 22 February 2012 - 02:10 PM
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