We use the current interbank exchange rate of the day, and we apply a 0.50% FX markup.
If you’re sending a payment, once you've entered how much you'd like to send in USD we'll show you the live exchange rate, FX markup fee and the transfer fee (if applicable to your plan) on the screen.
The exchange rate will also update automatically every 30 seconds, allowing you to see how much the person you're paying will receive and how much it'll cost you in real time.
After you’ve made the payment, you can see the exchange rate used again by tapping on the transaction in your timeline.
For any rejected outbound payments we will apply the exchange rate available at the time of the return. This means when the payment is returned to you, it might be a different amount.
There are no other documents, objects or shadows around the cheque
It lays flat on a dark, plain surface, under good but not too bright light; preferably, the cheque shouldn’t be placed on wooden surface
All 4 corners of the cheque must be visible in the frame
If you’ve received a payment, you can see these same details by tapping the transaction in your timeline.
Disclaimer: FX markup for our members on the Standard/Free plan will be increased to 1.5% from 28 May 2025 (members on our Paid plans will remain on 0.5%)
In the app, tap: ‘Get paid’ > ‘Deposit cash and cheques’ > ‘Deposit cheques’. If this is your first deposit - read and agree to the Terms & Conditions.
Enter the amount and reference, and tap ‘Next’.
Hold your camera horizontally over the cheque while the app captures the details. At the ‘Review photo’ stage, you’ll see a black-and-white image of the cheque. Make sure that all details are clearly visible – including the account number, sort code, signature, payee name, amount, and date. If any details are unclear, please retake the cheque images.
Once you’ve confirmed that everything is correct, you can submit the cheque deposit.
When will I receive my cheque deposit?
Cheques will normally clear in 2 business days.
On the back of the cheque itself, make a note of the date you deposited it. Keep the paper cheque for your records.
If you’ve enabled your in-app notifications, you’ll see a message to confirm the cheque payment. It will show on your transactions timeline, and in your monthly statement - as ‘Cheque’.
