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[dcristo]

For those who have requested to receive a cheque in their local currency which you can now do, do you know if this applies to the cheque payment about to go out?

[SpeedyDomainRegistration]

As far as I remember from Google's announcement, it will be in local currency starting earning for March. This would mean this check.

[dcristo]

Cool, thanks for that.

[sarahk]

I hadn't picked up on that but the kiwi banks have no problems with banking US$ so I don't think I'll worry. I wonder if Google use a standard exchange rate or if they round in their favour?

Sarah

[dcristo]

I hadn't picked up on that but the kiwi banks have no problems with banking US$ so I don't think I'll worry. I wonder if Google use a standard exchange rate or if they round in their favour?

Sarah

You'd be better off getting cheques in your local currency so as to avoid high bank fee's for depositing international currency cheques.

[SpeedyDomainRegistration]

How about EFT?
This may be better then getting cheques.
Do you have that option in your account?
Depending on your country of residency, you may not have this option.

[dcristo]

How about EFT?
This may be better then getting cheques.
Do you have that option in your account?
Depending on your country of residency, you may not have this option.

Yes I do, however I didnt go with the option as its only in beta development and I remember it stated if they muck the payment up you would have to wait another month for payment. Cheques are all good though, only take about a week to reach Australia with normal delivery.

[Arnie]

You'd be better off getting cheques in your local currency so as to avoid high bank fee's for depositing international currency cheques.
Not always right. I pay for my dollar cheque 5 dollars to clear and get a very good exchange rate. I don't have to wait for clearance. It's called negociating your cheque. Most of the countries need $$$ to pay their foreign bills, petrol etc..
- It's a bank issue. It took me 2 month to find a suitable bank.

[maverick]

I am paying $5-7 (local currency) for encashing my check!! :(

[galacnet]

I have encashed quite a number of Google cheques before and the rates are around $10 to $20 USD per transaction.
But I don't know if its because its of the foriegn dollar or because its an overseas bank that they charge per transaction......

Because they have to send it back to the USA for verification and stuff, so rates may still stay the same..... But once you have done your first cheque, I found that my local bank clears them faster upon subsequent encashments. :)

[norfstar]

I get charged a £9 (roughly $17) fee for negotiating USD cheques - but the money clears into my account in 1-2 days, which is much faster than a domestic cheque would.

[Arnie]

Because they have to send it back to the USA for verification and stuff, so rates may still stay the same..... But once you have done your first cheque, I found that my local bank clears them faster upon subsequent encashments. :)
Banks can verify the cheques online with the issuing bank and usually banks that buy the cheques get the interests from the day of veryfication.
Smaller or medium sized banks have better services, while the bigger ones are a kind of sharks.