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Depositing US dollar cheque

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  1. #11

    Join Date
    Mar 2010
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    6,745

    You are cool dudes.

    So how come IBM can not wire the money to your brokerage ?
    Assuming they are with a brokerage.
    If they are with a custodian, can you buy fractional shares ?

    In other words, what's the problem ???


  2. #12

    Join Date
    Jul 2007
    Posts
    65

    Just an update, I checked with HSBC and they basically will not accept my cheque since the figure is too low (37$ US) and is issued by a bank in the US. They can't calculate the exact figures but said the charges will be more than what the cheque is worth ($100 HKD for here but then there will be charges from the issuing bank in the US which they are not sure what will be).


  3. #13

    Join Date
    Mar 2010
    Posts
    6,745

    I remember I had the same problem resulting from a cheque that I got because us investors won a lawsuit.

    So this is an issue we need to look into, how to cash in US cheques in HK


  4. #14

    Join Date
    May 2010
    Posts
    4,713

    just endorse the check to a friend or family member


  5. #15

    Join Date
    May 2010
    Posts
    4,713

    many US banks will allow you to bank a check online. try Chase

    Morrison likes this.

  6. #16

    Join Date
    Nov 2007
    Posts
    165

    Recently received a large check in US dollars. I had called HSBC prior to receiving the check and asked if it could be deposited into our account here. They said, of course.
    Took the check to the bank to deposit. They can deposit it BUT it takes 6 weeks and I would have to pay $800 HK in fees.

    I took the check, sent it Speedpost to my US bank and funds were available in 3 days. The banks here can't quite figure out how to do things efficiently.

    Morrison likes this.

  7. #17

    Join Date
    Dec 2002
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    Six week period is for sending the physical check to the US for clearing. If you have a decent balance and have been with the bank long enough the bank will buy the check from you and funds are available in a few days.

    Morrison likes this.

  8. #18

    Join Date
    Feb 2009
    Location
    Gulf Region, ex Mid-Levels
    Posts
    1,933
    Quote Originally Posted by jonastainine:
    I got an IRS check for a few hundred bucks made out to me and my wife because we file jointly. After unsuccessfully getting it deposited I just tossed it.
    Just wait, they will send you a new one next year. they then snowball as for each you you don't cash the check in, they will send you separate ones for each year, plus an early warning letter to to say they are sendIng you a check.

    The wallpaper idea doesn't seem so silly now...