Can I deposit a check from a foreign bank or issued in foreign currency? (2024)

FAQs

Can I deposit a check from a foreign bank or issued in foreign currency? ›

Can I deposit a check from a foreign bank or issued in foreign currency? Yes, you can.

Foreign check deposit services allow us to collect payment on your behalf on foreign checks ² deposited to your local account. Foreign currency checks are converted to U.S. dollars at competitive exchange rates. Foreign exchange services feature a comprehensive set of tools to manage foreign currency risk ².

Yes, most of the big high street banks will let you pay in a foreign cheque. There's usually a fee for doing so. If you need to access the money quickly, an online bank transfer is usually faster than trying to cash a cheque.

Do banks accept foreign currency in the US? Some banks may let you exchange unspent foreign currency you bring back to the U.S., but you generally won't be able to deposit foreign money into your checking or savings account. Instead, you'll have to exchange foreign currency for dollars before making a deposit.

Deposits of US$ checks can be made directly to any Bank of America branch; departments should not deposit foreign checks and/or foreign currency and should contact Cash Receipts for further guidance. Deposit slips are available at the bank branch. The necessary account details for deposit are stated below.

Yes, you can.

Chase doesn't offer foreign currency accounts, but don't worry. There are lots of other options out there, including the Wise account.

Foreign Currency Cheque Conversions

If you've received a cheque in a foreign currency, Great Southern Bank, in association with Convera, will usually be able to convert it into Australian Dollars for credit to your account.

Not all banks or credit unions exchange foreign currency. Our list has options that let you exchange foreign currency at a branch, over the phone, or online. Most financial institutions require you to be a customer to exchange foreign currency.

Most foreign checks are processed within 2 weeks. However, depending on the country and foreign bank it could take up to 6 weeks. Some foreign items need to be sent out for collection and can take anywhere from 3 to 6 months to be returned, depending on the currency and bank.

Can I pay foreign currency into a bank? ›

You can only send and receive overseas and foreign currency payments on a current account. You cannot do this on a savings account. We use Agent Banks to send and receive overseas and foreign currency payments.

Banks, credit unions, and online currency exchange bureaus and converters provide convenient and often inexpensive currency exchange services. Also, your own bank's overseas ATM or a foreign bank's are ways to get local currency with a credit card or ATM card once you have arrived.

Head to your bank or credit union before you leave to avoid paying ATM transaction costs. You may even receive a better exchange rate. Credit unions and banks will exchange your dollars into a foreign currency before and after your trip when you have a checking or savings account with them.

You'll need to open an account with a bank that will accept foreign currency cheques. It's a bit of a pain for you, but I can't think of another way around it.

Depositing foreign currency into a U.S. bank account requires converting it to U.S. dollars first. Initial contact with your bank is advised to check if they offer currency exchange services. If your bank doesn't offer the service, other financial institutions might help convert the currency.

All of the following attributes appear on a foreign check: A foreign bank drawee name, The address of a foreign bank drawee located outside the U.S., and. A non-consecutive nine digit routing transit number.

Take your cheque to the bank – Most banks require that you cash or deposit foreign currency cheques in person for security purposes. Ask to deposit a US dollar cheque – The bank teller likely has a system in place for handling foreign currency cheques, so it's best to tell them what you want to do from the get-go.

U.S. Bank determines in its discretion the applicable currency exchange rate it assigns to your foreign exchange transaction. We consider many factors in determining currency exchange rates, including our desired rate of return, risks taken, costs involved and services provided.

If you've received a cheque in a foreign currency, MyState Bank, through Convera Australia Pty Ltd will usually be able to convert it into Australian dollars for credit to your account. Please be aware that some conditions apply including a clearance period. Money orders and Travellers Cheques are not accepted.