Unbelievable but true
2.5 years ago Ryanair sent me a cheque in euros issued by a German Bank to my British address in return for cancelling the flight I was supposed to have taken 3 months before.
The currency exchange fee and the bank commission to cash it in was higher than the amount of the cheque itself.
Nice try Ryanair, if you don't want your customers to get reimbursed just send cheques on a different currency.