How do you cash an International Cheque?

[theblank]

I'll have to call HSBC to see if they still accept cheques as I can't find anything on their website.

I am fairly sure this is mentioned in the PDS of the free bankaccount with foreign currency sub accounts

 

[big_RED]

Just spoke to HSBC. They have this account where you can setup additional foreign currency accounts. All fee free: Everyday Global Account | Transaction Account - HSBC AU

You CAN deposit foreign cheques the lady on the phone said, but only after being an HSBC customer for 8months.

It costs $10 to deposit the foreign cheque, they only have specific branches that allow for this, and you can deposit it into your foreign currency account of choice.

 

[Freq Flier 2013]

Just spoke to HSBC. They have this account where you can setup additional foreign currency accounts. All fee free: Everyday Global Account | Transaction Account - HSBC AU

You CAN deposit foreign cheques the lady on the phone said, but only after being an HSBC customer for 8months.

It costs $10 to deposit the foreign cheque, they only have specific branches that allow for this, and you can deposit it into your foreign currency account of choice.

And I bet the once the 8 months waiting period finishes they will no longer accept international cheques or you will get different info when speaking to another customer representative.

 

[big_RED]

And I bet the once the 8 months waiting period finishes they will no longer accept international cheques or you will get different info when speaking to another customer representative.

Lol. I did wonder that too

 

[anyonebutqantas]

What's the point of the 8 month waiting period? Makes no sense.

Great Southern Bank still seem to accept them, as do a bunch of smaller credit unions.

 

[Tolkas]

Thanks to folks on this thread for guidance. For the next person facing this issue:
April 2023, great southern bank takes USD and treasury checks. I was able to open an account and mail a couple of cheques in. No issues and no waiting period on the account. Takes some time for cheque to clear, but works.

 

[AIRwin]

For the next person facing this issue:
April 2023, great southern bank takes USD and treasury checks.

Thanks for sharing and welcome to AFF!

Foreign Currency Cheque Conversion | Great Southern Bank

Convert your foreign currency drafts easily with Great Southern Bank. Enjoy competitive rates and hassle-free service today.

www.greatsouthernbank.com.au

 

[serfty]

I have received an ~USD50 settlement check (sic) and need to deposit it.

Thanks to folks on this thread for guidance. For the next person facing this issue:
April 2023, great southern bank takes USD and treasury checks. I was able to open an account and mail a couple of cheques in. No issues and no waiting period on the account. Takes some time for cheque to clear, but works.

Thanks for that. I've had account with GSB since the CUA days. I checked it out - they now charge a $15 fee.

I've been with HSBC since 2023, so best I can find would be wear their $10 fee. I do have a USD global account.

https://www.greatsouthernbank.com.au/__data/assets/pdf_file/0022/8185/RC00023_Schedule-of-Fees_240621.pdf

The fee represents a significant proportion, but I only have 2 months to have it cleared.

Do any have better suggestions in foreign currency Cheques?

 

[SBD]

I have received an ~USD50 settlement check (sic) and need to deposit it.

Thanks for that. I've had account with GSB since the CUA days. I checked it out - they now charge a $15 fee.

I've been with HSBC since 2023, so best I can find would be wear their $10 fee. I do have a USD global account.

https://www.greatsouthernbank.com.au/__data/assets/pdf_file/0022/8185/RC00023_Schedule-of-Fees_240621.pdf

The fee represents a significant proportion, but I only have 2 months to have it cleared.

Do any have better suggestions in foreign currency Cheques?

You could endorse it to somebody else who has easier depositing arrangements. I've done this with smallish USD cheques (checks, they would be) and given them to my brother to deposit in his normal NYC bank account.

 

[serfty]

In the the end I went to an HSBC branch in Melbourne CBD.

There were some intitial reservations as staff thought the amount was below their limits, but I received a call back that as a Premier account holder this did not apply.

It took 4 weeks, but has now been credited less their $10 fee. It was under UD$100.

 

[Cruiser Elite]

I need help if someone has a suggestion? I have received a cheque from a USA based bank in my name for USD51.00. Bendigo Bank will not accept cheque deposit in foreign currency and Aust Post will not accept it either. Any suggestions how I might convert it to AUD? TIA

 

[pagingjoan]

I need help if someone has a suggestion? I have received a cheque from a USA based bank in my name for USD51.00. Bendigo Bank will not accept cheque deposit in foreign currency and Aust Post will not accept it either. Any suggestions how I might convert it to AUD? TIA

Wish I could help, CE!
Will be keeping an eye on the responses you receive.
My partner is in the same quandary with a MUCH larger cheque from a German bank.
So far, all our enquiries have come to nought.
Negotiating with the German government body issuer but they maintain that they can pay out only by cheque!
Head shaking stuff!

 

[AuSammy]

I need help if someone has a suggestion? I have received a cheque from a USA based bank in my name for USD51.00. Bendigo Bank will not accept cheque deposit in foreign currency and Aust Post will not accept it either. Any suggestions how I might convert it to AUD? TIA

Wish I could help, CE!
Will be keeping an eye on the responses you receive.
My partner is in the same quandary with a MUCH larger cheque from a German bank.
So far, all our enquiries have come to nought.
Negotiating with the German government body issuer but they maintain that they can pay out only by cheque!
Head shaking stuff!

Dr Google says

 

[Aeryn]

I need help if someone has a suggestion? I have received a cheque from a USA based bank in my name for USD51.00. Bendigo Bank will not accept cheque deposit in foreign currency and Aust Post will not accept it either. Any suggestions how I might convert it to AUD? TIA

Because cheques are being phased out in Australia (all financial institutions set to stop issuing cheques by June 30, 2028, and stop accepting them entirely by September 30, 2029) fewer and fewer banks are accepting even AUD cheques let alone foreign ones.

Most banks are only allowing new cheques to be written by customers who had a cheque book before the reforms were announced i.e. you cant open a new account with a cheque book anymore; and government introduced services such as Pexa to do property settlements instead of bank cheques.

That said Google indicates there are a few banks still processing foreign cheques (you will need to be a customer, so will have to open an account) including:

• Qudos Bank - depositing foreign cheques (easy to open an account online)
• GreatSouthernBank - depositing foreign cheques
• HSBC - when collecting a foreign cheque, we'll convert the amount using the prevailing HSBC exchange rate after the paying bank pays us. It may take between 4-6 weeks before your money is deposited into your account

 

[RooFlyer]

I need help if someone has a suggestion? I have received a cheque from a USA based bank in my name for USD51.00. Bendigo Bank will not accept cheque deposit in foreign currency and Aust Post will not accept it either. Any suggestions how I might convert it to AUD? TIA

There are some AFFers who travel to USA regularly +/- USA bank accounts. Maybe corresp with them to see if there is a way they could take your cheque, either cash it or deposit it and return funds to you? Of course the 'thank you' for doing that may go close to the value of the cheque!

 

[Quickstatus]

I need help if someone has a suggestion? I have received a cheque from a USA based bank in my name for USD51.00

Maybe this:
None of the big 4 will cash foreign cheques

 

[pagingjoan]

….
That said Google indicates there are a few banks still processing foreign cheques (you will need to be a customer, so will have to open an account) including:

• Qudos Bank - depositing foreign cheques (easy to open an account online)
• GreatSouthernBank - depositing foreign cheques
• HSBC - when collecting a foreign cheque, we'll convert the amount using the prevailing HSBC exchange rate after the paying bank pays us. It may take between 4-6 weeks before your money is deposited into your account

That’s fantastic, Aeryn. Thank you!
Don’t know if it will help CE, but I have a GSB account, although my partner does not.
I will contact them tomorrow and see what can be sorted out.
Thank you again for taking the time to respond.

 

[serfty]

I need help if someone has a suggestion? I have received a cheque from a USA based bank in my name for USD51.00. Bendigo Bank will not accept cheque deposit in foreign currency and Aust Post will not accept it either. Any suggestions how I might convert it to AUD? TIA

Posts now moved to relevant thread.

See upthread; a few years ago I used Citibank, no good now.

Last year I used HSBC, it did cost $10, but it seems that is no more.

GSB may be another way.

 

[Ansett Nostalgic]

Posts now moved to relevant thread.

See upthread; a few years ago I used Citibank, no good now.

Last year I used HSBC, it did cost $10, but it seems that is no more.

GSB may be another way.

GSB may well be the last and best option...

 

[AuSammy]

International Currency Transfer | Qudos Bank

There are now over 35 currencies to choose from when sending payments to Australia.

www.qudosbank.com.au