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Converting a Euro check to US $?

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I've  a Euro cheque in my name for 1k and was wondering what would be the best way to cash it w/o paying too much conversion fees?

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rated:
Open a bank in Europe. Deposit check and use xe.com or another service like it to transfer and convert the money
This way its lowest cost

rated:
ellory said:   Open a bank in Europe. Deposit check and use xe.com or another service like it to transfer and convert the money
This way its lowest cost


Opening their own bank in Europe??? A bit extreme for a single check.

OP should just go to their bank and present it. He'll have to deal with a collections fee and probably a delay in getting paid, but since it looks like a one time thing, they just got to accept that.

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Thank you ellory and burgerwars! Opening a EU bank account from here seems to be tedious/time consuming process for a one time transaction. Is there any particular US bank/institution that won't charge exorbitant fees?

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To add, opening a bank account in Europe by a U.S. person has become very difficult. FATCA stuff. If one is an HSBC Premier customer in the U.S. they'll assist you in opening an account with one of their foreign subsidiaries, but good luck if you just walk into "Bank of Wherever" and try to open an account.

I do maintain a UK bank account. No plans on ever closing it as it would be next to impossible for me to reopen it.

rated:
http://www.ehow.com/how_8393163_deposit-euro-check-bank.html

Just go to a bank branch and deposit at the counter. Prepare for reasonable/unreasonable amount of fees and an unfavorable FOREX spread depending on how good your bank is, what type of account you have, etc. I'd expect something like EU1,000 coming out to about US$1,000 after fees and currency conversion.

Don't bother opening overseas account over this.

If the issuing bank has a U.S. branch (uncommon but not unheard of), I've had success doing in person there.

rated:
Who sent you the money? If it's a person, have them cancel the cheque and send it via Transfer Wise or similar service.

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Thanks everyone, unfortunately I only got a cheque and can't change that so will have to go through a bank here and pay the fees.

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