An actor-reader seeking to cash US dollar cheques is at the mercy of the whims of banks at home and abroad
You might not be entirely clear on what residuals are – Pricewatch wasn’t – and in case you’re not we should explain that they are the extra cash a writer, actor or director can get if the work they have done is reused or repeated on the television or on airplanes or on streaming services or anywhere else for that matter.Temu: What is it, how do I pronounce it, and why is it so cheap?The car had three small scratches, costing €300 to fix.
“Until recently they would only cash US cheques above $100 and the fees attached to doing it were ridiculous,” he said. “They were charging $80 and more to cash every single cheque. Not only that but the process was taking at least 10 weeks. That was bad enough, but things have gotten even worse and they will no longer allow me to cash a cheque unless it has a value of at least $250.”
“They have just told me that this is how they do it and that is that. Is there anything I can do or any way you could help?” The first thing we were told was the bank would make contact with our reader and explain the situation to him which it duly did.“When a customer lodges an international cheque for processing, they are subject to charges from the international bank from which the cheque was drawn,” she said.
“As a result, and to protect the best interest of our customers, we no longer submit international cheques of less than €250 in the applicable currency for processing because of these significant charges being levied on customers. Instead, we recommend customers process payments via EFT/Swift transfer to maximise the value of the cheque they will receive, in a significantly shorter time frame.”