Can't cash CDN check in US

[Krikit 1,164]

Ugh. Don't get me started.

[CDAgirlMI 51]

We got a couple Canadian cheques for our wedding. The Credit Union we deal with took them without any issues.

[lilacvioletiris 11]

I tried to cash a Canadian Check from my fiance'. They had to send it off for "special processing" and a month later I got the money deposited into my account. It was through a local credit union and thankfully they didn't charge us for processing it. Just took FOREVER!

[brightskte 18]

We have US bank and they'll take the checks no problem as long as they are made out to someone on the account. The ones we've gotten so far are written to Mathew so once we have his name on the account we'll be able to do it. I confirmed this with the bank manager at my local branch so we'll see what happens!

[Mestis 1]

My mom-in-law deposited a CDN check from my mom in her bank account without issue. Just takes a little while to clear. It was in Illinois. I did it for 1 or 2 checks myself.

To avoid issue tho, when my relatives in Canada send me money, I have a bank account in Canada that my dad has the power of attourney on. He just deposit the money in my CDN bank account, and I transfert the money to my US bank account with Paypal.

[jennleah72 0]

I asked the same question awhile back and decided to try our bank just to see. We had absoloutely no issues. I've cashed three Canadian cheques there since March and havent paid any fees or anything. They just convert it into American funds and deposit it.

[The_Dude 1,142]

I've deposited a couple of cheques at our bank with no problem. The first time I did this however, they held it for 10 days before clearing it. More recently, they deposited it straight away. Wells Fargo is a decent bank, at least for what I need from it.

[Pauley 2]

One trick you may be able to use if you anticipate this happening on a regular basis: my wife has a TD bank account in Canada that is maintained in US Dollars. Checks she writes to me are Canadian (and has what, to me, and probably to the banks in the US, looks like a wacky order of numbers at the bottom), but since they are made out in US Dollars, I've been able to deposit or cash them with no problem (though I have to use a teller -- Bank of America switched from envelopes to scanners for depositing checks at ATMs, and the scanner barfs at that code at the bottom ).

[zenaxe 22]

I've received a check from my car insurance company in Canada today and went to my bank today and they said the routing # is different so they can't deposit it in...

Was anybody else be able to deposit the CDN check in their USA bank?

Thnx

So far I've made Cnd cheques out to my wife and she's been able to deposit them into our joint US Wells Fargo account without any issue, just have to deal with the currency exchange rates.

[sly_wolf 199]

One trick you may be able to use if you anticipate this happening on a regular basis: my wife has a TD bank account in Canada that is maintained in US Dollars. Checks she writes to me are Canadian (and has what, to me, and probably to the banks in the US, looks like a wacky order of numbers at the bottom), but since they are made out in US Dollars, I've been able to deposit or cash them with no problem (though I have to use a teller -- Bank of America switched from envelopes to scanners for depositing checks at ATMs, and the scanner barfs at that code at the bottom ).

Yes, I do that as well and it also works out better for currency exchange purposes. Our US bank deposits the Canadian US cheque with any problems

[The Earmuffs 0]

Bank of America cashed one check for me and it took one day.

[Flames9_RN 358]

Lot of banks will cash a cdn cheque, and if its a small amount,then who cares! But if your transferring a large amount, then you should look into currency exchangers! They can usually get you a better exchange rate!

[mikka 0]

hello

I can understand your *&%@##*!! for cashing CND chqs with your AMERICAN account.

I work in a canadian bank currently.

Each country and each banks has its own proccessing clearing/rules.

1- it all depends your relationship with your bank.

2- amount of the chq you are cashing/depositing.

3- Do you have money to cover the amount in case the chqs bounce back?

remember,

within same country (in canada), teller accept it --> ship to processing center, process overnight ---> ship to the payee processing center, they process ---> take the money out of the payee account ----> sent back a OK signal to the beneficiary bank. Fast 3 business days.

In Canada, it process everything through their own processing center. Takes 5 Business day for canada chqs, american chqs takes 15 business days, other contries takes 25 business days.

From what I understand from my fiancee, USA has only ONE federal processing center. So all the chqs are hold for 3 business days for american code chqs.

Because it is country to country, it goes to MORE procedures than usually; therefore takes longer.

So if you come with a 50 dollars and you have enought money to cover in case of bounce back. The bank is not worried.

If you just open the account last month, even thought you have enough money to cover it, the bank will refuse you because they dont know you that well and your transaction habits. In my bank, I will put a hold no matter what is the amount.

If you come with a high amount like for example 10K, I dont even deposit in the account, it will sent to collection and let collection deals with it. it will cost at least 100 dollars and might take more than 1 month.

why? collection will have to contact the foreign bank to verified, depending the other bank speed of reply, might take a while. When it is ok with the foreign bank, to get the money ASAP, they will wire the that amount to my bank. Wire cost momey, once it is in... need to be convert it. You only get the conversion of that time and day. So you might lost up lot of money and time. Once I sent the chq to collection, it is out of my hand and client will have hard time to reach and know what is going on. Therefore, for big amount, I suggest them to get someoene from origin to wire transfer it to beneficiary account instead of chq or international drafts.

This is to prevent money laundry, fraud and losses. Each banks has it own policy on how much risk/toleranc. they are willing to take. Also, they are monitor by the local, national govt and some kind of international financial monetary Department (I dont remember the name). If by mistake the banks did get involve in a money laundry/big big fraud/terrorism financing or any BAD BAD thing, they get penalize BIG TIME and not good for their reputation (not safe = no one will want to bank with them).

So if you have friend that want to give you money, ask them to sent you a money order/draft that the money is comes from a US banks.

For example, RBC Canada US money order is drawn from JP Morgan institution. Payee buys the money order in canada. The banks give him a MO in US. Banks sent electronically the US money to J.P Morgan US institution account and waits to be cash. Since your bank acct in in America and the money order in dranw from J.P.Morgan US bank takes less processing time.

cheers,

mikka

[Krikit 1,164]

My US bank incorrectly encoded a CDN medical reimbursement cheque (SunLife) I deposited, then had the nerve to levy a "service" charge when RBC returned it as "Endorsement Cancelled" due to their own error and ignorance. It took 1.5 years to sort out, and I never did receive the "service" charge reimbursement. And that's not the only story I have. American banks are clueless when it comes to international transactions.