Last reviewed 24 October 2026.
For payees in the United Kingdom and Europe, the difficulty with a US Treasury check (“cheque”) is rarely the check itself. It is getting a US-dollar payment into a local account cleanly. This guide covers the practical side of settlement.
Why local banks hesitate
Many UK and European banks no longer accept foreign cheques. Where they do, a US-dollar cheque is usually sent for collection: the bank forwards it to a US correspondent and credits the account only once it is paid, which can take several weeks and may involve fees at both ends. A collected cheque can still be returned after the funds appear.
Receiving US dollars
Proceeds are paid in US dollars by international wire. What arrives depends on the receiving account:
- A US-dollar or multi-currency account receives the dollars without conversion.
- A sterling or euro account is credited after the receiving bank converts the payment at its own exchange rate, which may include a margin.
Where an account offers both, comparing the bank’s US-dollar rate with the market rate before choosing is worthwhile.
Intermediary and receiving charges
International wires can pass through one or more intermediary banks, and intermediary or receiving banks may deduct a charge before the funds are credited. The amount received can therefore be slightly lower than the amount sent. These charges are set by the banks concerned.
Account details
The account must be held in the payee’s own name. Payments to accounts in the UK and Europe need the IBAN and the bank’s SWIFT / BIC; an error in either can delay or return the payment. A recent statement showing the account name, IBAN and SWIFT / BIC is requested with the application for this reason.
Questions from the receiving bank
Banks sometimes ask about the source of an incoming international payment. The tax return, withholding statement and payment confirmation are usually sufficient to answer, and keeping them to hand avoids delay.
Validity
US Treasury checks are void one year after the issue date (31 U.S.C. § 3328). A check close to its void date should be submitted without delay.
Fee and timing
A fee of 10% of the face value is deducted from the proceeds; nothing is payable upfront. Funds are paid 14 days after the check clears, or longer for checks over USD 100,000. Full details are in the FAQ and terms.
Sources
Apply
The application takes about ten minutes. Nothing is payable upfront; the fee of 10% of face value is deducted from the proceeds.