Transferring Euro into Pound Sterling in the UK.?

Hi everyone. I%26#039;m expecting a cheque of around 13,000 Euro that has been left to me in a will and I expect it to arrive within the next month and is being sent from Ireland over to me in Scotland.

I have a Bank Account with the Bank of Scotland and I%26#039;m looking to see what would be the best option for me as I would like to convert the 13,000 Euro into Pound Sterling.

Should I just go to my bank? Is there anywhere else where I could get this money converted into Pound Sterling with a decent exchange rate?

Thanks.

Transferring Euro into Pound Sterling in the UK.?inflation rate

This is a good question, as I believe you can basically just deposit the check, if your account is with RBS and is a regular GBP retail account, the bank will use its own conversion rate (average for the day) to deposit and charge a fee for this privilege. You can inquire what the specific rate is that they will use and what the charge is.

You can compare by checking the exchange rates on http://www.x-rates.com/

As for fees, foreign exchange and check cashing places will charge far more than a bank for fees, typically a percent of the check. If you do cash the check at another bank, you will most likelyt have to open an account at that institution, so it would entail some inconvenience.

In my opinion, for convenience and security, I would just deposit the check in your account and have the bank exchange it.

Transferring Euro into Pound Sterling in the UK.?

loan

The Bank will pay it into any account you want them too.

If the Bank wants a cut, the post office changes it for free, but im not sure how a cheque will work. They normally deal in cash.|||I%26#039;d phone around. Banks do charge a fair amount for this conversion, but I expect the rate varies from bank to bank or building society.|||I would check the rates with the high streeet travel agents too because they do not alwaysw have the same rates as the banks. However they may make you pay commission...

My advice is shop around for the best rate but check for fees etc before you agree to anything!