How do you get an exchange rate that is close to the fair market exchange rate when cashing a check in a foreign denomination? Banks seem to use their own fictional rates and claim they are fair, even though they clearly aren't.
In case details matter here:
I have recently closed a bank account in the UK and received a check for the money that remained in it. I want to move this money to a German bank. The bank's offered exchange rate is far worse than the "official" market exchange rate. It's enough money that it could be worth some effort for me to make sure I get a fair exchange rate. For instance, if buying some asset in the UK and selling it in Germany would result in a more efficient effective conversion rate, that would be something for me to consider. I would prefer if there simply was an online service for this, or something similar. TransferWise would do this, but they don't accept checks for some reason.