I Got A Cheque Question!!

mhcampboy SG

I just received a cheque from United States.

It means, the currency will be in USD rite? Not SGD?

So when I give the bank to cash in, it will be converted to Sgd rite?

the Bear SG

you will have to pay them some transaction fee..

laurence82 SG

at the spot rate

mhcampboy SG

ermm ok i dun mind the fees, im just asking.. the cheque is in USD rite? since its from US?...so i will be getting the converted amt then?

the Bear SG

the teletubbie just told you.. Spot Rate..

mhcampboy SG

ookies.. so its in USD then… woohooo!! im rich im rich!!wahahah

laurence82 SG

bai jia zi

-_-!

the Bear SG

must be one of his boyfriends over there send him stuff Laughing

laurence82 SG

how u noe?

either its the cutesy neighbour

or the curious firemen

Twisted Evil

allentyb SG

give the cheque to me, since you don't know the rate Embarassed

mhcampboy SG

btw…if i queue up…how long will it takes for it to be cashed in?? and wad do i need? bankbook?

sunny6110 SG

cheque clearing... mon - fri...

if got cross... and b4 2pm, the next day aft 2 can take $$ liao...

juz write ur bank acct no. and ur contact behind the cheque and drop in the box...

Meia Gisborn SG

Was it a personal or a business/corporate check (cheque)? US banks generally do not clear personal checks cashed overseas.

mhcampboy SG

its a corporate check... not personal...

and got no cross also...

Meia Gisborn SG

Here's a suggestion: if the amount of the check is substantial and you don't want to get hit with admin fees, commission charges and/or an unfavourable exchange rate when you convert it to S$, consider opening a foreign currency account in US$ at a local bank. You should then be able to deposit the check right into the account at its face value, less a small clearing fee since the check was drawn on an overseas bank.

mhcampboy SG

ermm.. well.. its not tat BIG amt... Laughing

but i really dun mind the fees....

just wanna know.. how long would it takes for it to clear if i queue up and cashed it in... and wad must i bring?

Meia Gisborn SG

Not sure about the length of time (it would probably be a few days more since it involves an international transaction), but as for identification documents, I'd imagine you'd just need to bring the same stuff needed to cash a local check. That's just a guess.

the_don SG

I hate cheques from foreign banks. ggrrrr Evil or Very Mad

If they dun have agent bank in sg, it will take min 1 month to clear the stupid cheque. If they have agent bank in sg still not so bad.

after deducting admin fees and whatnots, the sum you get is often pathetic.

anyway that was 6 years ago when i was banking in US, Israel, Euro, Aussie cheques. Maybe the banking system is better now but i seriously doubt it.

U should have asked your boyfren or pimp to TT (telegraphic transfer) the funds to you instead. Mr. Green

laurence82 SG

TT got high admin charge

-_-

the Bear SG

i think it's less than clearing a foreign cheque.. but then, i've not been in banking since 1996

places like Western Union charges a reasonable rate..