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| Cash a US check without getting ripped off?; Seems like banks run a scam here | |
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| Topic Started: Feb 5 2010, 03:09:46 PM (2,068 Views) | |
| bizort | Feb 5 2010, 03:09:46 PM Post #1 |
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Anklebiter
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I have a birthday check from an uncle of mine along with another check from the state of Florida that I'd either like to cash or deposit into my account at Westpac. After running around various cash places, I've found that, to the best of my knowledge, only banks can do anything with my US checks. So I took one of them to Westpac to try and deposit them, knowing a fee would be involved. I get there and the teller tells me it's a $20 fee to do anything with it! The check itself is only $75 so it seems like a complete rip-off. I figured the bank would get a percentage of it but $20 no matter what is completely insane. Does anyone know of any other way for me to do something with these checks without being ripped off? Or is it just Westpac? |
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| TerritorianTori | Feb 5 2010, 04:58:10 PM Post #2 |
Dance to disco
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We ran into the same thing about 5 years ago when cashing some wedding cheques from the US.  AFAIK, all of the banks are the same when it comes to foreign paper cheques: charge a fee (anywhere from $10 to $50 per cheque), aaaand put a hold on the money for 3-6 weeks. That's right, you'll have to wait at least a month before you can withdraw the money.Do you still have a US bank account open? Do you have any family/friends in the States who could cash it for you & send the money back via Paypal? Those are the only options I can think of. Hopefully someone else has another idea! 
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 South Texas to the Northern Territory - since 2004 I'm a huge fan of... Angry Video Game Nerd | The Big Bang Theory | Doctor Who | Pet Shop Boys | Yanks Down Under ~ Americans living in Australia Avatar by Sketch Shop Boys | |
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| blarg | Feb 5 2010, 05:27:45 PM Post #3 |
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True Blue Mate
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I just deposit them in my US Bank of America account and leave it there until I'm either: a) Visting the US b) Moving USD to AUD c) Giving someone a gift in USD If I'm moving it I just lump it into the transfer. |
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| bizort | Feb 5 2010, 05:31:34 PM Post #4 |
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Anklebiter
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I might just send them to someone in the US to put into my American bank account. I was hoping there was an easier way. |
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| shylady | Feb 5 2010, 07:16:14 PM Post #5 |
oldYank
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Bank of Queensland charges a flat $7.00/check to verify it instantly, deposit it into your account, and it's instantly available for withdrawal. |
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"I could’ve turned a different corner, I could’ve gone another place... " ku,'09 | |
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| crapola | Feb 5 2010, 10:16:28 PM Post #6 |
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True Blue Mate
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commonwealth bank charges a flat $10 fee no matter how much the cheque is, but it takes 4 weeks to clear... even for a government-issued tax refund cheque... |
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| bizort | Feb 6 2010, 11:58:32 AM Post #7 |
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Anklebiter
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Do I need an account with them to cash it? I've only seen one Bank of Queensland so far but I'd be happy to go down there if it means keeping Westpac's hands off my money |
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| shylady | Feb 6 2010, 12:17:06 PM Post #8 |
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oldYank
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You probably need an account, that's how I found out, I asked to deposit a couple US checks into our account, and they verified them online and said I could withdraw the funds immediately. BOQ merged with Home Building Society to grab up their 35 branches in Western Australia, and we had an account there. (I also have a Westpac account, but I avoid their fees as much as possible, too!) |
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"I could’ve turned a different corner, I could’ve gone another place... " ku,'09 | |
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| pastrycook-136 | Feb 7 2010, 12:50:40 AM Post #9 |
True Blue Mate
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I have run into this same problem a few times too. I have my American checkbook and deposit slips with me and I just mail the indorsed check and deposit slip to Bank of America's bank by mail address in Phoenix, AZ and deposit it that way. If you have a different American bank they likely have a way to deposit by mail too. If I then need the money I can just withdraw it with my ATM card here. The postage is way less than the bank fees and hassle here and the check will clear as soon as it gets to the bank. |
| "If you want to gather honey don't kick over the beehive!" | |
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| RachaelK | Feb 7 2010, 11:26:51 AM Post #10 |
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True Blue Mate
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I do the same - mail it in to my American bank and just withdraw with my ATM card... |
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| bizort | Feb 9 2010, 04:34:31 PM Post #11 |
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Anklebiter
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How did you get the deposit slip(s)? Did you just grab a bunch of them before you left? |
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| RachaelK | Feb 9 2010, 08:08:56 PM Post #12 |
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True Blue Mate
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I had a couple at the back of my checkbook so I just photocopied them and cut them out. They don't seem to mind so long as it's got all the right info. You could call/e-mail. Maybe they could send you something via e-mail or somebody you know might be able to pick up a generic and scan it to you? |
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| blarg | Feb 9 2010, 11:59:33 PM Post #13 |
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True Blue Mate
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Bank of America is happy to mail me my statements and all here for no charge. You might try just calling and saying you need deposit slips. And then see if they balk at your Aussie address. 
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| SanDiablo | Feb 10 2010, 06:03:01 AM Post #14 |
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True Blue Mate
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You can also just include a note with your account details. It doesn't have to be an 'official deposit slip'. They just need direction as to what to do with it. You may also be able to download deposit slips from their website. If you are still having trouble with this, and you really need the cash here asap, I will cash it for you for a mere $5 fee 
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| "I'll try anything twice." | |
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| suzn | Feb 17 2010, 03:32:54 PM Post #15 |
True Blue Mate
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I just cashed a USD check/cheque thru Credit Union Australia. The fee was $35 and it took 6 weeks to process. Not doing that again! Next time, I'll mail the check to the USA and have someone deposit it into my BofA account for me. I have a BofA account so that I can order US stuff online and get it sent to USGlobal Mail directly where they forward it all to Oz for me. |
 Living in Oz since 2002 ~ Temp Residency granted Dec 2004 ~ Perm Residency granted Oct 2006 ~ Dual citizenship official May 2009 | |
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| staylor8383 | Jan 18 2011, 06:04:48 PM Post #16 |
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True Blue Mate
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hhhmmm... thanks for all the info seeing as we will be having the same issue soon. i am not sure how comfortable i am sending an endorsed check in the mail though. especially since it will be a significant amount. we are with NAB currently so I guess I better look into their policies for international checks. when my kids get checks for their birthdays I send them back to the US to be put in their accounts there, but the checks are never more than $50. |
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| pastrycook-136 | Jan 19 2011, 02:47:26 AM Post #17 |
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True Blue Mate
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After you endorse the check write "for deposit only" and then your account number. This way the check can only be deposited into the account you specify and not be redirected to another account or cashed by a thief. I have done this with every paycheck and other checks I have received over the years and I have never had any problems. |
| "If you want to gather honey don't kick over the beehive!" | |
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| Kuningan | Jan 19 2011, 12:36:51 PM Post #18 |
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True Blue Mate
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What pastrycook said - endorse "for deposit only" and include the account number on the back of the check, send to your banks official bank by mail address and you'll be right. We've done this for 2 years now and while it takes a little while to get there and get processed, at least we get the whole amount. We've sent large checks this way - no worries. |
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| KimInMellie | Jan 21 2011, 06:12:15 PM Post #19 |
True Blue Mate
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Not every branch, apparently I went into our local branch this afternoon to inquire about this and they said no go. $7 fee to deposit the O/S check, but still a 6-8 week wait for the funds. The bank manager said that as each BOQ branch is a franchise, the manager has a lot of say in whether or not to extend that courtesy of immediate availability. If you have a long-standing relationship with the bank, or a personal relationship with the manager, that might get done, but not in all cases. Darn.
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 Go that way really, really fast. If something gets in your way, turn. -- Charles De Mar | |
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| Cimexus | Jan 28 2011, 02:22:50 AM Post #20 |
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Chinwagger
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I'm afraid by far the quickest and cheapest way to do this is, as suggested, mail the check to a relative in the US and have them cash it for you. We still have one old aunt in the US that insists on still mailing us Xmas money in the form of a check, even though we've told her repeatedly that all we will do is mail it straight back to the US! Old habits die hard I guess It's not really a scam the banks are running. It's just such an unusual service they don't really have the infrastructure set up to do it easily. Keep in mind Australians barely use cheques AT ALL, let alone international ones. I've personally never had a chequebook or written a cheque or even cashed one in my whole life (I'm 28). They went the way of the dodo in the 80s here, replaced with EFTPOS and more recently, Bpay. |
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