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Do any banks accept foreign cheques?
Posted: Thu Jan 17, 2019 12:00 pm
by Stramash23
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
Re: Do any banks accept foreign cheques?
Posted: Thu Jan 17, 2019 12:11 pm
by joelightcloud
No they do not...
Re: Do any banks accept foreign cheques?
Posted: Thu Jan 17, 2019 12:14 pm
by Stramash23
well that is bollocks
thanks
Re: Do any banks accept foreign cheques?
Posted: Thu Jan 17, 2019 5:43 pm
by lostjeremy
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
Re: Do any banks accept foreign cheques?
Posted: Thu Jan 17, 2019 6:03 pm
by taabarang
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.
Re: Do any banks accept foreign cheques?
Posted: Thu Jan 17, 2019 6:39 pm
by fax
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
Re: Do any banks accept foreign cheques?
Posted: Mon Jan 21, 2019 10:06 am
by Stramash23
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
Re: Do any banks accept foreign cheques?
Posted: Sun Jan 27, 2019 10:19 pm
by Khmerican
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.
Re: Do any banks accept foreign cheques?
Posted: Sat Mar 09, 2019 3:27 pm
by BKK Phil
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
Re: Do any banks accept foreign cheques?
Posted: Sun Mar 10, 2019 4:54 pm
by jefjef
Many banks abroad now accept online deposit of cheque with their app. Might be an option.