How to encash USA check in Australia
- Thread starter aussieB
- Start date
I believe some Australian banks will do this, not sure of the fee??
However, the cheque/bank account need to be in same name.
Wells Fargo has a system where you can take a copy of the US cheque and they just deposit this into your US account, I can access funds using xe trade. Another option if you have a bank account in US
However, the cheque/bank account need to be in same name.
Wells Fargo has a system where you can take a copy of the US cheque and they just deposit this into your US account, I can access funds using xe trade. Another option if you have a bank account in US
But its not AU$?? That's nice AussB will end up with more money, check out the exchange today I think 77 Au$... anyways
Here's Commonwealth's policy on it, sounds like a headache
https://www.commbank.com.au/personal/international/foreign-cheques-drafts.html
Nah, its pretty easy.
Take the cheque to your local branch and deposit it. It needs a bit more paperwork, but its not hard.
The funds land into your account in AUD - usually after about 5days (it is slightly longer than an Australian cheque).
If you want USD Im not sure of the process. Im not sure that it is possible. You would probably have to deposit it in AUD, then convert back to USD. You would be slugged the usual fees at each point. So it will cost you about $50 in fees, plus about a 10% differential in exchange rates.
Just be aware that CBA has some of the highest fees for foreign transactions, and the worst exchange rates of the major banks.
Blacky
Take the cheque to your local branch and deposit it. It needs a bit more paperwork, but its not hard.
The funds land into your account in AUD - usually after about 5days (it is slightly longer than an Australian cheque).
If you want USD Im not sure of the process. Im not sure that it is possible. You would probably have to deposit it in AUD, then convert back to USD. You would be slugged the usual fees at each point. So it will cost you about $50 in fees, plus about a 10% differential in exchange rates.
Just be aware that CBA has some of the highest fees for foreign transactions, and the worst exchange rates of the major banks.
Blacky
I was trying to avoid the bank fees and the conversion fee and the transaction fee and the name my father fee
I walked into NAB and they said 16 weeks to clear the check. Its a USD check and I want AUD out of it, as many as possible and as fast as possible.
The time frame is probably correct if the cheque came from overseas. The cheque will have to go back to the issuing bank for clearance before your bank will release the funds.
Can you arrange a different form of money transfer?
Unless you know the person who wrote the cheque well, there is every possibility it is a fake. Your bank won't take any chances.
Marg
Go to one of the amex or fx traders.
I was trying to avoid the bank fees and the conversion fee and the transaction fee and the name my father fee
I walked into NAB and they said 16 weeks to clear the check. Its a USD check and I want AUD out of it, as many as possible and as fast as possible.
this is why bitcoin or one of the another similar currencies has to come into wider play, if the other person paid u in bitcoin rather than cheque you would have had the money in seconds with basically no fees
the banks will fight so hard to repress them as they do massive rorts on these types of transaction.
business to business they make an absolute fortune everyday which will be taken away if bitcoin was accepted
