Cashing a US Cheque/Check in USA

LBlued Rivers on 25/01/2024 - 13:43

Hello fellow ozbargainers.Need your advise\assistance.

The State of Delaware Unclaimed Property (the gold standard in abysmal customer server) will only issue me with a cheque\check for the return of money that they deemed unclaimed. They do not offer electronic transfer of funds in any form, so I have a cheque for just under $US10k. No bank in Australia will process foreign currency cheques anymore. The few exceptions are some banks if you were a customer in 2022 (which obviously doesn't apply to me). HSBC is the only bank that still does foreign cheques, but you need to be a customer for at least 6 months before they will accept it (again doesn't apply to me). The US cheque has a 6 month expiry date, so minus the 6 weeks it took to receive the cheque (because they wont even do express post) means that HSBC is not an option.

So it looks like my only option is to get on a plane and go to the USA

My questions for you:
1) Does anyone have any experience in cashing a cheque at a bank in the USA. The cheque is drawn on JPMorgan Chase Bank.
- Any limits on the amount that can be cashed
- ID required (obviously I'll have my passport)
- Do I need to have an account with them (can I even open an account with them)
- Is there a wait time between giving them the cheque and getting the cash
- I presume my best chance would be going to a JPMorgan Chase Bank branch.
- Could I sign the cheque over to a friend in the US so he can put the cheque in his bank account and then transfer the money to me

2) Does anyone have a HSBC multi currency account and have deposited money into this overseas (obviously using a cheque). Possible?

3) Can't seem to find any online Bank e.g. Revolut, that takes cheques as deposits. Any suggestion of a financial institution (e.g. Share Trading) that I may be able to use that will take a cheque that may at some point result in the money landing in my bank account in Australia?

4) Any suggestions for a nice frame that is worthy of a "life like" painting of a cheque that cost me $US10k ?

Any assistance will be very much appreciated.

Thanks

Financial

Comments

  • AndyC1 on 25/01/2024 - 14:32
    +3

    Email JPMorgan Chase Bank and ask them if there is anyway you can do what you are asking or make an international call to their help desk, which may be quicker and cheaper in the long run.

  • Porker on 25/01/2024 - 14:48
    +2

    Wow… What a situation/conundrum to be in… Keep us updated.

  • silverstone2023 on 25/01/2024 - 14:52
    +4

    From a Google search, it looks like Great Southern Bank accepts foreign cheques.

    https://www.greatsouthernbank.com.au/international-services/…

    Looks like it will cost you $80 in fees. Cheaper than an airfare to the US.

    • Blued Rivers on 25/01/2024 - 16:49
      +3

      Hi @silverstone2023.
      I'm speachless :) I spent days googling, ringing and emailing banks. If their website said they took foreign cheques, then it just meant they don't keep their website up to date. I called\emailed over 10 banks that had a website saying they still do foreign cheques and it was either "not anymore" or "only for existing customers at 2022".
      I just rang great southern and the woman said they do (not in a nasty way, but it was like "yes, why wouldn't we").

      Thank you so much. I feel like I need to rip up my googling license.

      I will keep this post updated on my success (it still feels like I won Oz lotto).

      Now if anyone can help out with the reason I give my girlfriend why I still need to go to the States for a week.

    • Blued Rivers on 31/01/2024 - 12:30
      +1

      Hi @silverstone2023
      I'm delighted to say that I deposited my US cheque into my new Great Southern Bank account yesterday. The 2 lovely tellers gave me a knowing smile when I told them they were the only bank that accepts foreign cheques.

      Not credited to my account till the cheque is cleared in up to 8 weeks times, but all things considered, who cares :)

      They have some good interest rate accounts available without many hoops to jump through.

      Thanks for your help.

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