Those Darn Letting Agencies!!

Hi Everyone,

Recently, I've been apartment searching and have come up succesful with a small one bedroom place close to a train station. Rent will be 425. Not too bad, I'd say.

Anyway, I've been running into trouble with the agency and my money. I sent them a cashier's cheque from a US bank that was written in dollars for the equivalent amount in GBP (as instructed by my bank). I was assured this would transfer by my bank.

I sent this to the agency who checked my references, said we can start planning a moving date and then said the money might not go through can I wire it to them.

Apparently, the bank NatWest told them they weren't sure if the cheque will clear and they won't know for 14 days. (it takes that long to process it) The agency wants me to send them money by wire in addition to the money sent by cashier's cheque and if the cheque clears they will refund me upon arrival to the new apartment. If it doesn't, then no harm, no foul.

For those of you who do not know, a cashier's cheque is a guaranteed payment by the bank. In order to get the cheque, I had to withdraw the money from my account and physically give it to the bank to make this cheque. So currently, I do not have the money and the agency will be getting additional money from me (plus the cost of wiring the money and putting a stop on the cheque - if that can be done).

blaaaaaaaaaaaaaaaaaaaaaahh!!!!

What a hassle.  I work at a bank in the US and all it would take would be for them to make an international phone call to verify the validity of the  check!  That would be really simple!  If they are insistant on the wire, you might be able to talk to your bank and have them void the check(they would probably require you to send it back to them, unless you pay the stop payment fee) and they could do the wire instead, but you still would have to pay that fee.  Not sure what your bank charges, ours is $50 for international wires.  Sounds like they don't really want to do the work for the money!  Hopefully you get it resolved with them!  Are they leery on it just because it is an international check?

I work for a bank in the UK and I'd be surprised if it only takes 14 days for it to clear. I did a 4 hour training on how to spot money laundering today. Of course you're not doing this, but this is why they're so slow to cash cheques in foreign currency. When I moved here I had a student loan cheque in USD and it was going to take potentially 4 weeks for it to clear. I ended up sending the cheque back to the US, my parents deposited it in my account, and I did an international transfer. My bank charges $40. Sorry for the hassle! 

What a huge hassle.  I hope they have at least put in writing that they will refund you the money if the cheque clears? Don't wire them any money until they do, just to be on the safe side.

great advice everyone. i didn't hear anything from the today, but hopefully this will all be cleared up by the end of the week!

cheers,
jo