Questions for UK webmasters....

[UKnewbie]

hello UK WMs,
new to the biz and I'd like to find out how long it takes to receive checks from sponsors which are usually based in the US and how long it also takes for the checks to clear accounts.....

thanks mates,

[UKnewbie]

Geez everyone must be out partying today.....didnt even get one response....DAMN>>>>>MAN....:(

[ultra160]

I use auctionpix.co.uk to convert dollars - it's cheaper than using the bank, but it takes a couple of days longer to get your money. Mail doesn't seem to be a problem, sponsors just seem to stuff all the cheques in envelopes and stick them in the post. PayPal is crap, I've got two accounts and can't get either of them working sensibly. PayPal look on the UK as a cash cow to be milked and exploited.

[UKnewbie]

thanks elf...
but how long does it b4 the checks arrive and how long does it take to clear after being deposited.....1 week..2weeks ...etc...

[ultra160]

Post doesn't seem to be a problem - it probably takes an extra couple of days to deliver here rather than in US. Clearing cheques would be much faster if it was done through a clearing bank, but I would rather wait an extra few days and save on the commission. So I can wait anything up to 10 days for funds to clear through auction pix - they have got some faster options, You can see details at www.auctionpix.co.uk. I think it all depends how quickly you want the money and how much it is. If you've made $1,000 plus, you can have it wired for a quick service, but have to pay the extra for this.

My choice is to wait a few days and get more in my account in the end. If you've only made $50/$100 from a small sponsor, you don't want to give most of it to the bank.

[SexySites]

i use HSBC to bank my cheques and it takes about 1-2 days for it to clear.....you get like a conversion statement etc. they do charge 8 pounds for conversion though.

laters,
Chris

[hal]

I use Natwest and pay £8 per batch of cheques, but it takes like a week or two to clear.

:(

[UKnewbie]

thanks guys,
I have an hsbc account...LLoyds too but they're too rivh for my taste right now!!
chris can you tell me if the 8lbs. they charge is per check or a batch of checks ........
tryin to find the best bank to deposit my checks it...since the first checks I get will be small and I'm not at all interested in giving 1/2 of it to the bank.....

thanks again

[richard]

I bank with Lloyds, and checks clear same speed (if not faster) than £ sterling cheques.

I think i pay £8 / batch.

[ultra160]

You have to be careful with Lloyds, they manipulate accounts and add charges with no agreed basis. Check all their statements and charges. I left them a while ago after they cost me a lot of money, the manager retired soon after and I watched him walk to the off-licence past my shop most evenings. The previous manager had left Lloyds and when I met him some time afterwards, he gave as his reason that his conscience wouldn't let him treat his customers as he had been ordered by head office.

I took one case to the chief executive where they had served an eviction order on a man who had a heart attack, they then refused to adjourn the case whilst he was unconscious. I couldn't get a lawyer to represent him as he couldn't give consent. He died just before the case, with them refusing to consider anything. There have been a lot of these sort of things involving Lloyds.

[richard]

They've always been good to me, never had any problems, and the family has banked locally with them for years (personal and several businesses).

Thanks for the heads up though, i'll check (hehe, geddit? :confused: ) that they keep in line.

It always helps when you are buddy buddy with the managers as well ;)

[ultra160]

Lloyds bank seem to have destroyed more UK businesses than any other bank. I believe that they have more complaints against them than any other as well. Why do you think their profits are so high? - it's because they add a bit to your charges and hope that you don't notice.

Note to Lloyds if you read this. Please sue me, I'd like to have another go with you after you lost me so much money 10 years ago.

[UKnewbie]

Geez...are we having a LLoyds bashing session here.....

I called LLoyds TSB and the manager told me that they charge a flat 9LBS per check and it will take about a week to clear...
thats a bit steep especially if your check isnt very big....

Oh well, I'll just stick with HSBC and try to deposit a few at a time to save money.

this fucking country is a RIP OFF!!
How can blair justify letting his people get hit with such heavy fees.

[ultra160]

You nearly started me off on another political thread.

Back to the original question. You either pay bank charges or use another service.

I use auction pix as I said.

A one-off payment of £3.50 to set up a direct payment account, conversion at natwest rates and a postage stamp to send them an endorsed cheque. There are no other charges. I think it's worth waiting a few extra days for the saving

[SexySites]

depends on the size of the cheque ...have to cheque their site/office out etc

laters,
Chris

[rainsford]

I bank with Lloyds, i believe i pay 3% for the exchange. Usually takes less than a week for checks to reach me.

[NakedPanda]

Nice to see so many UK webmasters
I use Natwest no problems just a small charge per batch I think
they only pay me about .01 % interest on my savings though so I still hate them bring on the wine bars.
How do any of you decide whether you think the exchange rate will be more or less favourable in the future if you have a large dollar check and therefore whether u should cash it now or sit on it??

Later ;)

Panda