Cashing a cheque
This service is for those who wish to receive funds by bank cheque in EUR, GBP from the EU and Great Britain.
The bank accepts bearer cheques in euros (EUR) and British Pounds Sterling (GBP)
The cheque must be presented for cashing less than 5 months after the date of issue. When the cheque is cashed, the amount indicated on the cheque, after deduction of bank charges for cashing the cheque, will be transferred to the Urbo bank account specified by you.
The Bank accepts cheques issued by the EU (except Greece, Austria), British, Norwegian and Canadian banks.
Most cheques are cleared in around 5–9 weeks, but in some countries (e.g., France) the banks take longer and often take up to 10–13 weeks to clear/return a cheque.
You must also pay the fees if the cheque is returned unpaid (e.g., when the person who wrote the cheque cancels it or does not have enough money in their account to pay it).
The process of cashing cheques from foreign banks is lengthy and costly, so we always recommend that you use other methods to receive funds instead of paying by cheque, such as: a European payment in EUR from a SEPA country or an international payment in GBP.
In the case of regular business-to-business commercial cheque payments, Urbo Bankas may, prior to providing cashing services to the cheque payee, require to provide valid reasons why the cheque drawer is unable to settle by other methods recommended for Urbo Bankas’ business-to-business customer settlements.