Chashing A Check In Foreign Currency In The US?

[Emancipation 2]

navy federal refuses to cash a CDN Check... BoA said they use a 3rd party for check clearing and couldn't quote me the currency exchange or the fees associated with it.. so i gave up cashing CDN checks here, I send them home, cash them in my old account and then do a transfer through Custom House.

[Frazell Thomas 0]

Not sure where you are located, as it varies by bank as the thread shows, but I'll share my limited experience as if you're in my area it might be useful.

My bank, Sovereign Bank in Philadelphia, PA, doesn't charge any fees to cash foreign checks and they clear any bank's check for me within 1 business day. I frequently put CAD denominated checks into my account, but I haven't read anything in their schedule of fees that would make it any different for any other foreign check.

I think you need to shop banks in your area and see what your options are really.

[Flames9_RN 358]

Not sure where you are located, as it varies by bank as the thread shows, but I'll share my limited experience as if you're in my area it might be useful.

My bank, Sovereign Bank in Philadelphia, PA, doesn't charge any fees to cash foreign checks and they clear any bank's check for me within 1 business day. I frequently put CAD denominated checks into my account, but I haven't read anything in their schedule of fees that would make it any different for any other foreign check.

I think you need to shop banks in your area and see what your options are really.

many banks don't charge fees, but give a sub par exchange rate! Thats why a good many of us canucks use CustomHouse.com to exchange $$$$, no fees and usually a much better exchange rate

[TayRivers 4]

I cash checks from the UK every month, I bank with Citizens bank here in Boston they are part of The Royal Bank of Scotland Group and I do not pay any fees but the rate is 2 cents lower than a money exchange. I just payin the check like I would any other check and it is cleared within 1 business day.

I would shop around for a bank with the lowest cost, but I do know that if I did not have an account with my bank they would charge $30 per check for non customers.

[Corbin 0]

I cash checks from the UK every month, I bank with Citizens bank here in Boston they are part of The Royal Bank of Scotland Group and I do not pay any fees but the rate is 2 cents lower than a money exchange. I just payin the check like I would any other check and it is cleared within 1 business day.

I would shop around for a bank with the lowest cost, but I do know that if I did not have an account with my bank they would charge $30 per check for non customers.

Most banks will charge a fee to non-members and that is if they will even cash the check to begin with. As stated I would shop for a new bank and ask the question of will you except these checks.