Page 1 of 2 12 LastLast
Results 1 to 25 of 49
  1. #1
    ABW Ambassador
    Join Date
    January 18th, 2005
    Posts
    718
    I just received my first small cheque from a merchant at BeFree.

    It's in US dollars and my UK bank explained that a large proportion of my cheque may be eaten up in charges.

    Have any of you UK based peeps out there experienced this and, if so, do you know of any way round it such as opening a US bank account or opening an account over here with a UK branch of a US bank?

    I'd be grateful for any advice offered [img]/infopop/emoticons/icon_smile.gif[/img]

  2. #2
    Member heywood's Avatar
    Join Date
    January 18th, 2005
    Location
    UK
    Posts
    114
    Hi microdot,

    I opened a US dollar account with Citibank and I've never had any problems with them.I have a dollar cheque book and bank card for withdrawals. They do charge $20 per month for the privilege unless you have $3000 in your account.

    They also have Internet and telephone banking which makes things a whole lot easier.

    Hope that helps...

  3. #3
    ABW Ambassador
    Join Date
    January 18th, 2005
    Posts
    718
    Thanks Buggy, that's cool and I was about to sign up until I read the terms, one of which is Yes I have a minimum income of £30,000 per annum..

    Unfortunately I can't answer yes to that just yet - wish I could though [img]/infopop/emoticons/icon_wink.gif[/img]

  4. #4
    ABW Ambassador
    Join Date
    January 18th, 2005
    Posts
    718
    Come on guys - surely there are some UK affiliates out there who have the same problem?

  5. #5
    Full Member tmd5's Avatar
    Join Date
    January 18th, 2005
    Posts
    379
    Hi Microdot,
    I haven't found a way around this except to set a high minimum before payment with those affil networks/merchants its possible to do it with e.g. allposters, clickbank etc. My bank just upped the bank charge for processing US dollar cheques from £5 to £10 so I've increased the minimums where possible. Some merchants don't let you do that e.g. amazon.com. Generally I don't sign up with a network/merchant if I can't set a high minimum but I don't see that as a problem. There are now so many merchants and networks to choose from I just don't bother with those that would send out small cheques.

  6. #6
    ABW Ambassador
    Join Date
    January 18th, 2005
    Posts
    718
    Thanks TMD, but it's not what I wanted to hear [img]/infopop/emoticons/icon_frown.gif[/img]

    This month's cheque from that particular merchant will be bigger, but I still begrudge handing over my hard earned cash for what is essentially an electronic transaction :mad:

    I have contacted the merchant to make them aware of my plight, but they 'aint got back to me yet.

  7. #7
    ABW Adviser Panel Dynamoo's Avatar
    Join Date
    January 18th, 2005
    Location
    Opposite the Slough of Despond
    Posts
    5,465
    I approached my bank, Lloyds TSB with the same issue. First of all, yes they do US Dollar and Euro accounts.. great. Then they said you'd have to keep a $2000/E2000 balance.. hmmm I thought. And then they told me it would still be £5 to negotiate the cheque even though it will remain in dollars, which is the same that it costs for my sterling account. So basically the whole thing was a bit rubbish.

    Most UK banks will run US Dollar accounts, but the charges seem excessive.

    Really what we need is an offshore US Dollar based account with a debit card on it. Hmmm.

  8. #8
    ABW Adviser Panel Dynamoo's Avatar
    Join Date
    January 18th, 2005
    Location
    Opposite the Slough of Despond
    Posts
    5,465
    (Talking to myself now).

    Wells Fargo offer USD accounts for non-US residents, no word on charges though.

    Chase Manhattan have an account, the balance looks like $3000 but no word on charges.

    Griffon Bank is an offshore Dominican bank. Looks like the minimum balance is $500 and there's a $7 fee monthly. Also has debit/credit cards. Might be worth a close look.

    Anglo-American look like they have a $1000 balance requirement and a $10 monthly fee.

    Piazza Financial Services are a UK company offering banking in Delaware, deposit requirements are quite low but the upfront fee is over $500. Might be worth having a closer look at though [img]/infopop/emoticons/icon_smile.gif[/img]

  9. #9
    ABW Ambassador
    Join Date
    January 18th, 2005
    Posts
    718
    Thanks Dynamoo - I'll give them a look-see.

  10. #10
    ABW Adviser Panel Dynamoo's Avatar
    Join Date
    January 18th, 2005
    Location
    Opposite the Slough of Despond
    Posts
    5,465
    I noticed the
    EDebitPay card banner which looked pretty cool - it would be nice if the merchants could pay into something like that. Which is what it's for I guess.

    [ 07-01-2002: Message edited by: Dynamoo ]

  11. #11
    ABW Ambassador
    Join Date
    January 18th, 2005
    Posts
    718
    That certainly does look like a good idea to me - how can we get them to buy into it?

    I'm still waiting for a reply from the merchant in question - guess I'm not too high on their priority list [img]/infopop/emoticons/icon_frown.gif[/img]

  12. #12
    ABW Ambassador iucpxleps's Avatar
    Join Date
    January 18th, 2005
    Posts
    648
    I have the same problem too, I only work with TD from befree and with min $25 I have to give $15 to my bank hehe, it's kinda a silly joke [img]/infopop/emoticons/icon_biggrin.gif[/img]

  13. #13
    ABW Adviser Panel Dynamoo's Avatar
    Join Date
    January 18th, 2005
    Location
    Opposite the Slough of Despond
    Posts
    5,465
    That's a really, really good think with CJ vs Befree though - they'll pay you in Sterling - the cheque is a Wells Fargo one but it's actually all handled by Lloyds TSB so there are no extra charges.

    At least with Amazon (who I get my tiny cheques from) I could elect to have a gift certificate, but then I get hammered on international shipping and customs charges [img]/infopop/emoticons/icon_frown.gif[/img]

    iucpxleps - your singature says it all [img]/infopop/emoticons/icon_smile.gif[/img]

  14. #14
    ABW Ambassador
    Join Date
    January 18th, 2005
    Posts
    718
    Are we in a position to apply any pressure, or at least to petition for some better payment mechanism?

    How many Abestwebbers are from outside the US? - could we get Haiko to check how many for us?

  15. #15
    Newbie
    Join Date
    January 17th, 2005
    Posts
    1,537
    Well, you can go to Loyal bank and get an account and debit card and have themoney deposited into your account...then take it out at the ATM.

    Seems that's the idea ofCashEvolution - make it possible for people to have a bank account and debitcard for $25 per month.

    Duh...y'all need to get a clue about how international business is done and what the problems are.

  16. #16
    ABW Ambassador
    Join Date
    January 18th, 2005
    Posts
    718
    Oh, gee, thanks Professor, it's all so clear now :rolleyes:

    Maybe I don't want to spend $25.00 per month or something?

  17. #17
    Full Member
    Join Date
    January 18th, 2005
    Posts
    226
    I have no problems with lloydstsb. They charge between £4 and £8 depending on the value of the cheque. I have never come across any insane rules of the kind that I have read in this post so it probably depends on the banks branch manager or idiot staff. Having said that lloyds staff can leave a lot to be desired in terms of competence. I often feel that I should ask them if there is a grown up available to speak to. So just try and make sure that you deal with someone with a few years experience. They all wear ID badges and I make a point of writing down the name of the clown I dealt with jusy in case.

  18. #18
    ABW Ambassador
    Join Date
    January 18th, 2005
    Posts
    718
    Thanks guest - you sound almost as cynical as me [img]/infopop/emoticons/icon_wink.gif[/img]

  19. #19
    Full Member
    Join Date
    January 18th, 2005
    Posts
    226
    If you have any problems I will offer to cash your check for you, just pm me your telephone number.

    RE: cynical
    An american at disneyland sees a man dressed up in a mickey mouse costume as a giant mickey mouse, a brit just sees an idiot. lol

  20. #20
    Newbie
    Join Date
    January 18th, 2005
    Posts
    2,694
    Is there a reason it has to be a checking account? What about a US savings account that is linked to your current checking? Savings accounts generally don't have the same fees as checking.

    What I had in mind is ING Direct - an internet bank. They say they have "offices" in the UK but don't really specify if that's banking or just investment offices. In any case they support direct deposit and I believe they wire the money into your checking account from your savings when you make a withdrawal (similar to what PayPal does).

    Take a look: http://home.ingdirect.com/open/open.html

    Here's the FAQs page : http://home.ingdirect.com/faqs/faqs.html

  21. #21
    Full Member tmd5's Avatar
    Join Date
    January 18th, 2005
    Posts
    379
    Dynamoo, re your tiny cheques from amazon.com, I wrote them recently about minimum payments. Here's the reply which you might find useful:

    Thank you for writing to us at Amazon.com.

    Referral fees are paid during the 30 days following the end of each
    calendar quarter. Accounts with cumulative earnings in excess of
    $25.00 will receive payment by check, while lesser amounts are carried
    forward for future payment.

    We understand that this may limit some International Associates who
    may incur additional bank fees when cashing their checks, however, we
    are unable to hold checks over $25.00, until the balance has reached a
    specified amount.

    You are of course welcome to collect your checks as they come and then
    return them to us all together once they have reached the desired
    amount.
    We can then send you a single combined check.

    You may return your checks all together to the following address:

    Amazon.com
    Attn: Deanne Phillips
    P.O. Box 81226
    Seattle, WA 98108-1226
    USA

    Include the checks, your unique Associates ID, the payee e-mail
    address, the payee name and a written request to have your checks
    reissued in a single check.

    Please let us know if we can be of further assistance. Thank you for
    participating in the Associates Program.

    Best regards,
    Deanne P.
    Amazon.com Associates Program

    [ 07-01-2002: Message edited by: tmd5 ]

  22. #22
    Full Member
    Join Date
    January 18th, 2005
    Posts
    399
    I don't know if this would work or not, I've had no reason to deal with this sort of issue and it would serve no purpose if you're just talking about *one* check.

    But a possible solution: If you have an American friend *you can trust*, you can sign several of those checks (possibly getting together with friends/associates who have a similar small check problem) and mail them to your contact in the states.

    He countersigns, deposits them, and sends you one larger check - you still have to pay that ridiculous fee but on one check it wouldn't be as significant.

    You'd have to work out the details with your contact, like does he wait until they clear for example (you don't want him stuck with bounced checks from a deadbeat affiliate program).

    Like I said, this isn't something I've done, and there may be a reason it won't work - just a *possible* solution.

  23. #23
    ABW Ambassador
    Join Date
    January 18th, 2005
    Posts
    718
    Some useful info here - thanks guys [img]/infopop/emoticons/icon_biggrin.gif[/img]

  24. #24
    ABW Adviser Panel Dynamoo's Avatar
    Join Date
    January 18th, 2005
    Location
    Opposite the Slough of Despond
    Posts
    5,465
    Thanks tmd5, that's useful. I actually have the cheque burning a hole in my wallet at the moment, but I might just return it instead and wait for a reissue.

    I had a look at ING Direct and they don't seem to offer international accounts.. only a handful of banks will offer current accounts to overseas customers. ING is a Dutch bank however (they own Barings too, remember Nick Leeson?) but they don't seem to offer that sort of account.

    As an aside, I'd thought about setting up an offshore company and looking at offshore hosting to circumvent some of the oppressive snooping legislation that the UK government has been proposing.

  25. #25
    ABW Ambassador
    Join Date
    January 18th, 2005
    Posts
    718
    Dynamoo :eek: Isn't that a little subversive [img]/infopop/emoticons/icon_wink.gif[/img]

+ Reply to Thread
Page 1 of 2 12 LastLast

Similar Threads

  1. Bank charges on checks
    By womanht in forum Midnight Cafe'
    Replies: 8
    Last Post: May 19th, 2003, 05:06 AM
  2. Discussion: Chase Manhattan Bank USA, N.A. - avoid payment
    By salesworks in forum Rakuten LinkShare - LS
    Replies: 1
    Last Post: November 29th, 2002, 03:41 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •