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Deposit canadian check in bank of america

Date: 07.01.2021
Author: Vijay Das

deposit canadian check in bank of america

Probably the easiest way is going to be to open an account with a U.S. bank such as Citibank, that has a Canadian subsidiary, or TD Bank which is the American. I attempted to deposit the check at my local Bank of America branch she routinely deposits Canadian checks issued in USD at her local BofA. Please visit a financial center to deposit the following items which are currently not accepted via mobile deposit: U.S. savings bonds; Checks from foreign banks​.

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Deposit canadian check in bank of america -

My blog has moved! The partner was paying my US dollar invoice, and thought they were doing me a favor by drafting the check from their US dollar bank account at their Canadian bank.

The ATM would not accept the check. So I went inside the bank, stood in line, and then told the teller I wanted to deposit the check. The teller looked at the check, and confusion ensued. Eventually a manager came over and explained to me, with full confidence, and in no uncertain terms, that they were unable to accept the check.

He explained that the problem was not that the check was from a Canadian bank. He said that the problem was that the Canadian check was issued in US Dollars. He claimed that because the country of origin did not match the check currency, the branch could not accept the check.

That's the policy. The manager handed me a special envelope and a triplicate carbon copy form. He said I needed to fill out the form and mail it with the check to a super special obscure department at Bank of America called "Foreign Clean Collections"--whatever that means. Once the check is received by that department, it will review the check and coordinate with the foreign bank to get the funds transferred.

You're kidding me, right? So, being curious about this banking train wreck, I gave it a try. After that nightmare, I stopped accepting any foreign checks. I put a big red note on my invoice that says that I only accept credit cards and wire transfers from non-US customers.

And guess what: That process has been working just fine for years. This week, a Canadian partner didn't read my invoice, and didn't read my email with the invoice, and they mailed me a paper check. The check is from their Canadian bank, issued in US Dollars. So I contacted a colleague who regularly receives Canadian checks, and she said that she routinely deposits Canadian checks issued in USD at her local BofA branch without any issues.

Let me transfer you to our back office. I tried calling the branch back, but this time nobody answered and I got a voice response system. So the local bank branches are useless when inquiring about these things.

So I then called the main BofA customer service number. I spoke with someone who tried very hard to help, but she was unable to find any information and her computer and phone were unable to contact the department who might be able to help. I then directly called the illustrious Foreign Exchange Call Center and spoke with someone who, for the first time, sounded like he understood the mysterious process of depositing foreign checks with Bank of America.

What does that even mean? Every check is reviewed on a case by case basis. Acceptance of a foreign check is completely up to the discretion of the BofA branch, and the inconsistent and incorrect training that a teller or branch manager may have received. The branch can simply say they don't accept foreign checks. Or they can conjure up an excuse as to why they can't accept the check, like "the country of origin does not match the check currency". If the branch is willing to try to accept the check, they can scan the check in their "system".

This "system" then determines if Bank of America is willing to accept the check at that branch. Apparently this involves super secret algorithms about my "relationship" with the bank, the physical check, the bank that issued the check, the country of origin, the currency, the amount, etc. If the "system" determines that the branch can accept the specific check, apparently the check will be deposited in a fairly normal manner.

If the "system" determines that the branch cannot accept the check, then the magical process with the Foreign Clean Collections department kicks in, and you get the multi-part form, special envelope, a WEEK processing time, and hundreds of dollars in fees that you will not be able to determine in advance. There is realistically no way for you to know how much the foreign bank will charge in advance. I asked the representative how I was supposed to accept payments given the uncertainty and fees involved in this process.

He told me that they recommend wire transfers for foreign payments, and basically told me not to accept foreign checks. What a shocking conclusion.

Naturally, I have received several responses from people saying that they accept foreign checks all the time at their bank and never have an issue. Good for you, I say, enjoy the s! The Pony Express loves you! I rarely receive such checks, don't want to have to drive to the bank to deposit them, and don't want to deal with clueless bank employees and the nightmare game-of-chance process outlined above. Talk to someone from any country with a modern banking system and ask them how many checks they issue.

People from Singapore and Australia literally laugh in disbelief when I mention that the US still uses paper checks.

Wire transfers have been well established since the late s and now provide same day international funds transfers, usually for a reasonable fixed fee. Credit cards are a defacto payment method for a massive volume of transactions for many countries, and have benefits like fraud protection and points, and the merchant pays the fees for those transactions--which I am happy to do.

And services like the excellent TransferWise provide very low cost EFT funds transfers to dozens of countries with an excellent exchange rate. The only reason I have to explain why North American consumers and businesses seem to cling to checks is because our backwards banking system does not yet charge fees to shuffle around millions of pieces of paper with ink on them, pay the postage to mail them, scan those papers into digital images, and then perform an electronic funds transfer behind the scenes.

It's crazy. So, after wasting a few more hours researching this topic, I now have a clear decree, straight from the heart of Bank of America, and will continue to accept only credit card and wire transfer payments from non-US customers. If it's good enough for the rest of the world, it's good enough for me.

: Deposit canadian check in bank of america

BEST CASH BACK CREDIT CARDS FOR GRADUATE STUDENTS The process of depositing a Canadian check in a Deposit canadian check in bank of america. Right now, we have scanners deployed all over the world in places like Egypt, Australia and France for the sole purpose of scanning American checks and transmitting them back to the U. See our more recent article on U. A branch manager at BofA has the ability to override a hold in most cases, but not a teller. These are typically in places like hotels, embassies and tourist attractions that draw a lot of American tourists or expats, and most of these outfits keep an account at a U. If it's good enough for the rest of the world, it's good enough for me. Text message fees may apply from your carrier.
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Deposit canadian check in bank of america Message and data rates may apply. Text message fees may apply from your carrier. Samsung is a registered trademark of Samsung Electronics Co. If the branch is willing to try to accept the check, they can scan the check in their "system". Banking Deal: Earn 1. Related Posts.
deposit canadian check in bank of america

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