Cashing a Canadian check drawn on US currency without US bank account
Thread poster: Jorge Mosquera

Jorge Mosquera  Identity Verified
United States
Local time: 04:28
Member (2007)
English to Spanish
+ ...
Feb 4, 2009

Hi everyone!

My Canadian employer wants to pay me with a Canadian check drawn on US currency form the Royal Bank of Canada. I understand RBC has an agreement with several US banks. SO, I was wondering if I will have problems cashing this check in a US bank if I do not have an account with them? Or any other US bank for that matter. Also, do I need to go to the same bank where the check was issued?

Thank you all in advanced!

Jorge


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Kevin Fulton  Identity Verified
United States
Local time: 05:28
German to English
Need a US bank account Feb 4, 2009

You will not have to go to the bank issuing the check ...
BUT ...
It doesn't matter whether the originating bank is in the US or Canada, you will need your own bank account (or credit union account) in order to cash a check in the US. I don't think one of the check cashing services found in many US cities will cash a foreign check unless you've established an account. I suspect that even with an established bank account, you will have to wait for funds availability since the check is drawn on a foreign bank.

Foreign check / money order fraud (variants on the Nigerian scams) is quite rampant, and banks take steps to ensure that they don't lose money as a result of cashing a fake check.


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Jorge Mosquera  Identity Verified
United States
Local time: 04:28
Member (2007)
English to Spanish
+ ...
TOPIC STARTER
Re: Need a US bank account Feb 4, 2009

Yeah, that's what I thought. Thanks for your reply!

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ViktoriaG  Identity Verified
Canada
Local time: 05:28
English to French
+ ...
Please clarify Feb 4, 2009

When you say 'if I do not have an account with them', what do you mean by 'them'? The US bank where you will cash in your cheque? RBC? My interpretation is that you want to know whether you can cash in a foreign cheque even if you don't have an account with the bank that issued the cheque.

If that is what you mean, then the answer is that you don't need to have an account with RBC. Simply go to your bank (where you do have an account) and cash in the cheque. The amount of the cheque will most like be frozen, even if it is in US funds and even if it is a company cheque - foreign cheques always take longer to clear. In my case, when I get a US cheque (I'm in Canada), my bank takes a month before clearing it - unless I deposit the cheque in my USD account, in which case it still takes longer than a domestic cheque, but not as long as depositing it in a CAD account.

Please, clarify your question so that we can better assist you.

[Edited at 2009-02-04 19:57 GMT]


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Jorge Mosquera  Identity Verified
United States
Local time: 04:28
Member (2007)
English to Spanish
+ ...
TOPIC STARTER
What about wires? Feb 4, 2009

I was wondering.... My employer said she could wire the money to a friend's account. But I have heard that cross-border wires to the US are not the best idea since the US banking system works differently (no IBAN or SWFIT/BIC codes) and it is common that the wires get misplaced or made to the wrong account. Would you know anything about this?

Thanks.

Jorge


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Kevin Fulton  Identity Verified
United States
Local time: 05:28
German to English
US banks use SWIFT codes Feb 4, 2009

You'll need to inquire at the bank where you want the wire transfer directed.

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Tina Vonhof  Identity Verified
Canada
Local time: 03:28
Member (2006)
Dutch to English
+ ...
Why not Paypal? Feb 5, 2009

Why go through the hassle - why not use Paypal?

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Cashing a Canadian check drawn on US currency without US bank account

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