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callmejoe

Foreign dividend cheques

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Hey guys, got a question.

 

I only have sterling bank a/cs

 

If I take delivery of my share certificates, I'm going to be getting dividend cheques in USD and CAD.

 

Does anyone know of a cheap multi-currency a/c in which I can deposit the cheques?

 

From memory, the ones I had, used to stipulate a minimum amount for deposits

 

I'm getting concerned about the naked short selling and want to hold the certs now (except for shares in tax protected a/cs where this is not allowed)

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Ask HSBC, they may be able to open a multi-currency account for you (perhaps in HK)

 

The dividends from some companies (like those in HK), can come straight in as a transfer

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I doubt that - but I have moved cash from HSBC to Hang Seng bank, just in case.

 

I think you can receive your dividends into HSBC, and then move the money, if you are concerned

 

They have the best network I have found so far... but there may be others

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