Hi, I have a bank account with Halifax. If I get a check in USD. How much will Halifax charge me to put it in the bank in GBP?
Ex rates different from bank to bank and one forex dealer to another one. IF you get alot of these checks, I suggest you do a good research before you get the bank account. Look for the banks that directly deal with forex dealings for online forex traders. Their rates are usually the best and should be around .25 per unit currrency. Most of the regular banks would charge you around 1 % and when you deal with alot of these conversions, this 1% adds up. Think about over a 100,000 $ dealings a month. Thats almost a $1000 a month just for the conversions.