Cashing/banking a British cheque in Taiwan?

Anyone know what options are available for cashing/banking a British cheque sent to a Taiwanese person here with no British bank account? I’m asking on behalf of someone else, obviously.

I know certain banks here will deal with them, but charge an awful lot. Does anyone know of any decent options that will still leave most of the payment intact?

P.S. Could the mods please hold back on moving this to the Money forum, as least for a while? This isn’t really a business/investment question, and I’m concerned someone might know the answer to this, but not frequent that forum.

Thanks!

Didn’t Far Flung Scot report a while back that he found only the Bank of Taiwan could do exchange in British pounds? Stands to logic that they have better guanxi with British banks, and hence, would be a likely place to start.

Far easier to tear up the cheque & have the payer (if it’s a UK organisation) pay direct into a UK bank account. Like mine.
I’d be happy to take a (very small) commission & pay the funds on in TWD.

That’s a genuine offer, as I hate seeing people ripped off by banks.
I know it won’t be taken up though :smiley:.

[quote=“Nuit”]Far easier to tear up the cheque & have the payer (if it’s a UK organisation) pay direct into a UK bank account. Like mine.
I’d be happy to take a (very small) commission & pay the funds on in TWD.

That’s a genuine offer, as I hate seeing people ripped off by banks.
I know it won’t be taken up though :smiley:.[/quote]

Thanks, but if that were an option, I could’ve just had it paid into my own British account. They will only write the cheque to her.

I DID wonder if she could sign it on the back, then I could send it to my parents and they could could stick it into my account. Is that a possibility?

I’m sure it used to be possible (isn’t that what’s known as counter-signing?), but money-laundering regulations might have put an end to all that.
No harm in asking your bank though.

What asshole type of organization is being so inflexible on the payment method? :slight_smile:

3 years ago, I cashed a Canadian check drawn on my own bank account in Canada. You need to have an account at the bank, (In my case, Land Bank), who then sent it to Canada to be cashed. It takes about 30 days to get your money.

The middleman bank took (as I recall) $20 or $30 Canadian, which is a bit of a chunk, and the local bank took about $300-400nt as I recall to bring the money in, so not too bad if the check is for a decent sum.
The bank here will tell you that the middleman will charge a fee but cannot tell you how much until it occurs.