Cheque experts needed....!!!

mhcampboy SG · 2006-07-14T01:29:29+00:00

Call UOB (Old Useless Bank ) and ask?

mhcampboy SG

Hehehe... no laa.. just need some clarification regarding cheques. Normally on a cheque... they will put the word

PAY : XXXXX

but...

If one has received a cheque... and on the cheque says

PAY TO THE ORDER OF : XXXXXXX

its the same meaning izzit?

the Bear SG

sama-sama Wink

mhcampboy SG

oh ok. thank u thank u Wink

now...lets say... i receive a cheuque from...example US..

his cheque is BANK OF XXXX. not available in singapore.

how do i go abt cashing in the cheque? just cash it into my bank izzit? Neutral

Ito_^ SG

ya. juz throw it in.

and pray.

mhcampboy SG

throw what? u mean the cheque deposit box that one ar? Embarassed

hahah anyway, so the answer is yes? i can go to my bank and just cash the cheque? And my bank will just claim the money from the other bank izzit? is tat the way it works? Neutral

Ito_^ SG

ya, when i get cheques from overseas bank i oso throw it into the box.

mhcampboy SG

or i can queue up also right at the counter?

elindra SG

Yes you can
But you won't get your money immediately anyway

MosPyramid SG

It is better to queue up and deposit if you are unsure..

Coz pay to the order or meaning he don't know who are you, but pay to the invoice he is holding.

May not neccessary be you.

Moreover if he give you a cross check, anyone can take the money and the bank doesn't really know is that you or not. Laughing

mhcampboy SG

Oh. what happpens next? The bank will link up to the bank overseas and request transfer izzit? is tat how it works?

MosPyramid SG

Yup. Usually for 1~2 weeks the local bank will check the cheque integrity and the amount is sufficient or not. If no problem, you should get your money in that period.. Laughing

mhcampboy SG

1 or 2 WEEKS!!!?????? so long...ar... i tot few working days?? hahha Mr. Green

MosPyramid SG

haha, I not very sure also.. why not you try le and then tell me? Laughing

If you need the money urgently, why not you deposit the cheque and withdraw money equivalent to the cheque first? So there won't any difference when they credit the amount into your bank

mhcampboy SG

wad is the difference u tell me?? might as well no need to wait for the cheque!! Laughing

MosPyramid SG

Lol.. you can get the money sooner. Laughing

gentlerock SG

I always thought that cheques were for local use only? (local as in the country of issuance, local currency too).

For international payments, we have bank drafts and international cheques right?

mhcampboy SG

serious meh??...cant be wad... then how like tat?

Ito_^ SG

juz go to counter and deposit in lar. safest.

for deposit box, behind u gotta write down ur name, contact and bank account number if i remember right.

mhcampboy SG

but i wont get the money str8away right if its a foreign banks which is not available in sg...

choco B SG

What bank do you have an account in?
Maybe you should call them and ask... at least you'd get the right answers instead of double guessing.