I have received an Internation Bank Draft from a friend in Scotland, made out in Swedish Kroner. I went to my bank here in Sweden and they said it would cost around 60 Euro to cash the cheque which is worth around 1000 Euro. Does this sound right to you or am I being ripped off? Are there any other ways I can cash this check without it costing an arm and a leg?

  • Unfortunately this is completely normal, indeed you're lucky it's "that" low :/
    – Fattie
    Commented Jun 27, 2020 at 11:41

2 Answers 2


Since the check is written payable in Kroner then your friend has already (very likely) paid some fees to convert from their currency to Kroner.

Is the fee they want to charge you because you are converting from the currency of the check (Kroner) to Euros?

If so, this could be due to the exchange rate of the two currencies and 6% may be reasonable. In this case, perhaps you have some options...

  1. Cash (deposit) the check in its stated currency of Kroner. I would imagine it would be credited for the full amount.
  2. Return the check to your friend and ask them to have the check reissued payable in Euros, and especially consider this if you will receive future checks from them. Unfortunately, at this point, this may involve some additional costs for your friend.

If you are not converting from Kroner to Euros, and are actually trying to cash (deposit) the check in Kroner, then I don't know what the fee would be for. Ask at your bank why the fee would be charged.

  • There's nothing reasonable about a six percent exchange fee, especially to one of the bank's customers. Commented May 17, 2015 at 2:02
  • @EsotericScreenName - I'm not talking about an exchange fee. I'm talking about the exchange rate. For example, the current exchange rate from US$ to Canadian$ is about 1.20, so C$1.20 buys you US$1.00 and looks like a "cost" of nearly 17%, or going the other way, looks like a "gain" of 20%. You are right, the fee for doing the exchange should be minimal, probably between 1% and 2.5%. Commented May 17, 2015 at 2:23
  • Sadly, this answer is, again sadly, just wrong. 100.000000% of banks, worldwide, every country, every brand of bank, every city, every branch, charge about 50 to 100 USD to cash ("rofl") "international bank drafts". "international bank drafts" literally exist for this simple reason, sadly!
    – Fattie
    Commented Jun 27, 2020 at 11:43

Six percent sounds a little high for a major currency, although there will be some cost for the exchange rate. If you can find a local branch of the Scottish bank (or maybe any Scottish bank) in Sweden, you may be able to cash it cheaper, or pay for a bank wire into your own account at your Swedish bank.

  • Guys this is completely unrelated to exchange rates. The fee for cashing a (rofl) "international bank drafts" is indeed about 50 euros, worldwide, no exceptions. It's one of the last Great And Hilarious Banking Ripoffs.
    – Fattie
    Commented Jun 27, 2020 at 11:44

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