I have a cheque issued by a bank in the USA, proceeds from shares sold.
What is the best (i.e. cheapest) way to cash this cheque in Switzerland? Many years ago when I approached UBS they asked for an outrageous fee.
Thanks for hints and advices.
Charles Schwab - they have an app, you scan your cheque, money appears in your brokerage account. Free of charge
Just call up your broker/bank (MSSB or CS) and tell them that you need a wire transfer instead of a cheque. They will cancel it and wire you the money. iirc was maybe 20$ for 20k$ transfer from US to CHF. Nowadays I let my USD shares be transferred directly to Revolut USD account 0$ transfer fees.
I have heard that sometimes Revolut blocks account with high amounts. Did you have this issue in the past?
I had to go thru another round of KYC/AML procedures with Revolut recently because I had a steady inflow of my dissolved P2P portfolio (so 10ish different senders with money around 200-1000 Euros each). They asked for bank statements of the senders (which I obviously couldn’t provide) but in the end were happy after I provided overview of all deposits and withdrawals of the individual P2P Platforms. My 2h time investment was not paid for… there was no account blocking at any time tho.
I had twice a total account amount of around 25k CHF.