Foreign (Non Swiss) Cheques

cyrus · #1 21.11.2006, 10:17

Probably a simple answer to this, but I want to avoid a language barrier with my bank.

I've just recently moved, and I'm starting to get UK cheques in GBP from various canceled services, can I pay them into my UBS bank? The bank machine that does not seem to have the facility to pay in cheques.. (or maybe it does, but I don't know the german for it!)

I've yet to learn much German, and the counter staff in my local branch don't speak any english, making communication difficult.

Lob · #2 21.11.2006, 10:29

take them to the counter and be prepared to pay 8 (or more) francs per cheque you deposit.

Richard · #3 21.11.2006, 10:30

	Quote:	cyrus
	Probably a simple answer to this, but I want to avoid a language barrier with my bank. I've just recently moved, and I'm starting to get UK cheques in GBP from various canceled services, can I pay them into my UBS bank? The bank machine that does not seem to have the facility to pay in cheques.. (or maybe it does, but I don't know the german for it!) I've yet to learn much German, and the counter staff in my local branch don't speak any english, making communication difficult.

You can indeed pay them into your UBS account. Do expect however to receive charges that are more or less the equivalent of the value of the cheque. Indeed if the cheques are less than say £20 then more than the value of the cheque.

ie while it is possible don't do it.

cyrus · #4 21.11.2006, 10:53

	Quote:	Richard
	You can indeed pay them into your UBS account. Do expect however to receive charges that are more or less the equivalent of the value of the cheque. Indeed if the cheques are less than say £20 then more than the value of the cheque. ie while it is possible don't do it.

Uhm, I recently had to do a transfer using the SWIFT system, and this inlcluded a £20 charge, that's probably the charge you mention, I don't fancy that on each cheque..

Might wait till when I visit the UK

Thanks

Lob · #5 21.11.2006, 10:59

	Quote:
	Payment transactions in Europe, always use the IBAN and BIC. Charges for third-party costs for cross-border payments in Europe Starting in August 2006, payment orders in euros without an IBAN to an EU/EEA country will be charged the fees levied by the beneficiary?s bank. Since 1 January 2006, European banks require the payee's IBAN (International Bank Account Number) and BIC (Bank Identifier Code) for payment transactions. If the IBAN and BIC are not included on a payment order, the recipient bank will levy additional third-party charges because it will be unable to process the payment details automatically. From 2007 onwards, recipient banks have the right to reject orders for cross-border payments that do not carry an IBAN and BIC. In the first half of 2006, UBS will pay all third-party costs arising due to missing IBANs and BICs. From August 2006, in addition to the service price, we will debit a flat fee of CHF 8 for euro payment orders that are issued without an IBAN in an EU/EEA country. It therefore makes sense to switch over now to the IBAN and BIC for your foreign payment transactions. If you do not know the beneficiary's IBAN and/or the BIC of the beneficiary's bank and they are not shown on the invoice, please ask the beneficiary for this information. The IBAN is a standardized international account number that allows instant recognition of the three main account identifiers i.e. the country, bank and account number. The BIC is used to identify the beneficiary's bank. A payment instruction which includes the IBAN and BIC can be processed automatically without manual intervention. If you send invoices abroad, please provide the payer with your IBAN and BIC. You can find your own IBAN and BIC, for example, on your account statement either in UBS e-banking or on the printed version.

info from the ubs e-banking site....