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I get some stock dividends which amount to around $50 in total a year. Usually two cheques a year for around $26 each. Does anyone know the cheapest way to cash these in please?
Reinvestment via the broker is not an option unfortunately 🙁
It's been quite a few years since I did this, and my checks at the time were more like $1500/year but...
Cheapest way to do it then was using a Citibank dollar account and Transferwize.
Looking like Metrobank let you cash them for nothing. Going to try that route first.
Thinking aloud: small numbers of ASDAs do Forex at good rates; I wonder if they would accept an endorsed cheque?
They may, but not enough to tempt me to drive to my nearest ASDA on the off chance 🙂
Years ago, Barclays used to do them with no fee if they're under $50. But that was around 2000ish when I last did that.
Can they pay to an account instead of sending cheques (sorry 'checks' in American 😀 )? You could get a US$ account to get paid into and either transfer with exchange rate to a UK account or just buy things in dollars with it.
It's a dividend cheque, so there are basically no humans I can speak to and change things. All the accounts I've seen that accept cheques charge a processing fee so that's out.