Do any banks accept foreign cheques?

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Stramash23
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Do any banks accept foreign cheques?

Post by Stramash23 » Thu Jan 17, 2019 12:00 pm

Getting conflicting advice online and on forums

Does anyone know (from actual experience) if any banks here will accept foreign cheques

I have cheques from Wells Fargo and Deutsche Bank - one in GBP, the other in USD

I asked aba head office 3 months ago if they would and they said yes. Then when went to deposit, they said no

tia
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joelightcloud
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Re: Do any banks accept foreign cheques?

Post by joelightcloud » Thu Jan 17, 2019 12:11 pm

No they do not...
Stramash23
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Re: Do any banks accept foreign cheques?

Post by Stramash23 » Thu Jan 17, 2019 12:14 pm

well that is bollocks


thanks
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lostjeremy
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Re: Do any banks accept foreign cheques?

Post by lostjeremy » Thu Jan 17, 2019 5:43 pm

Maybank let me deposit a US check but didn't have access to the funds for awhile .. took 9 weeks to clear.

Sent from my CPH1823 using Tapatalk

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Re: Do any banks accept foreign cheques?

Post by taabarang » Thu Jan 17, 2019 6:03 pm

lostjeremy wrote:
Thu Jan 17, 2019 5:43 pm
Maybank let me deposit a US check but didn't have access to the funds for awhile .. took 9 weeks to clear.

Sent from my CPH1823 using Tapatalk
I don't know. about personal checks, but I played hell finding a bank that would accept. my Social Security checks from the US. I. was told that there was an inordinate amount of paperwork involved, but finally I have a direct deposit in a local bank and consequently a highly reduced waiting period for the checks to clear.

Excessive paperwork may be the hang-up.
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fax
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Re: Do any banks accept foreign cheques?

Post by fax » Thu Jan 17, 2019 6:39 pm

They stopped around 2013 or 2014. It was nation wide all of a sudden no bank took them. I think it was on order of the national bank. It seemed coordinated enough to be.

Cheques from local bank is OK. I wrote 2 myself today
Stramash23
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Re: Do any banks accept foreign cheques?

Post by Stramash23 » Mon Jan 21, 2019 10:06 am

To follow up:

after exchanging several emails with ABA, they have advised me they CAN accept foreign cheques with the following conditions:

1. Outward Overseas Cheque fee: 0.2% minimum $50 plus $50 courier fee per Cheque
2. Clearance takes approximately from 6 to 8 weeks
3. Fees will be collected upon cheque submitted at the branch

Given the cheques I received are for fairly small amounts, I have declined to cash them here and will look at other options
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Khmerican
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Re: Do any banks accept foreign cheques?

Post by Khmerican » Sun Jan 27, 2019 10:19 pm

Bank Drafts – Accepted (Inward)
  • A bank cheque written from any bank, local or international, can be given to ANZ Royal Bank and be deposited into your account or for immediate cash (conditions apply)

    Commission : 0.125% (min USD40.00)
http://anzroyal.com/en/personal/services/bank-draft/

I deposited a check drawn on a US bank over a decade ago and I believe it took 4 or 6 weeks to clear. Not sure if it's any quicker today.
I assume the "immediate cash" mentioned above is based on sufficient funds in the ANZ bank to cover the amount.
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BKK Phil
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Re: Do any banks accept foreign cheques?

Post by BKK Phil » Sat Mar 09, 2019 3:27 pm

taabarang wrote:
Thu Jan 17, 2019 6:03 pm
lostjeremy wrote:
Thu Jan 17, 2019 5:43 pm
Maybank let me deposit a US check but didn't have access to the funds for awhile .. took 9 weeks to clear.

Sent from my CPH1823 using Tapatalk
I don't know. about personal checks, but I played hell finding a bank that would accept. my Social Security checks from the US. I. was told that there was an inordinate amount of paperwork involved, but finally I have a direct deposit in a local bank and consequently a highly reduced waiting period for the checks to clear.

Excessive paperwork may be the hang-up.

Pray tell! I am about to arrive in Phnom Penh and open my own direct-deposit account in three weeks' time. Which local bank gave you that IDD bank account and what were their requirements from you to open the account?

Thanks.

BKK Phil
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Re: Do any banks accept foreign cheques?

Post by jefjef » Sun Mar 10, 2019 4:54 pm

Many banks abroad now accept online deposit of cheque with their app. Might be an option.
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