Foreign Cheque Collection Charges

[googol]

I dropped a 125usd cheque in DBS ATM and they charged ~21 sgd for collection

Does anyone knows which bank has the lowest cheque collection charges for foreign cheques?

 

[dreant]

DBS/POSB has the lowest fees for foreign cheques.

 

[NMSS_2]

is it a flat fee?

 

[wackykid]

bump this up... i heard from friend say that you can actually bank in USD cheques to Citibank credit card... it'll just credit into your statement... and don't have processing fees other than currency conversion?? does anyone know?? cos i have some USD cheques of very small value... as small as like USD5... like most banks i think the charges already more than the value of the cheque liao... so my cheque is as good as worthless...


regards,
wacky

 

[dreant]

is it a flat fee?

http://www.dbs.com/posb/others/overseascheque/servicecharges/default.aspx

Between $10-$100, depending on the cheque amount.

i heard from friend say that you can actually bank in USD cheques to Citibank credit card... it'll just credit into your statement... and don't have processing fees other than currency conversion?? does anyone know??

Look at the back of your CC, there is a phone number there. The person on the other end of the line would know.

 

[Mohd.Nazz]

Please advise me this issue.
If I have Malaysian bank cheque, issued in M’sia, can bank it into my S’pore bank account in S’pore.
Thanks

 

[dreant]

Please advise me this issue.
If I have Malaysian bank cheque, issued in M’sia, can bank it into my S’pore bank account in S’pore.
Thanks

Yes, you can. Your bank will charge you some fees.

 

[wackykid]

Look at the back of your CC, there is a phone number there. The person on the other end of the line would know.

by the way... for all those who couldn't answer my queries... from experiences from my friends... i've signed up Citibank card and managed to deposit my US cheques into it... all u need to do is to write the 16-digit CC number at the back of the cheque and drop into cheque collection box at any Citibank branch... u'll have to wait several weeks to be reflected into your statement as "check payment" with a negative charge...


regards,
wacky

 

[dreant]

by the way... for all those who couldn't answer my queries... from experiences from my friends... i've signed up Citibank card and managed to deposit my US cheques into it... all u need to do is to write the 16-digit CC number at the back of the cheque and drop into cheque collection box at any Citibank branch... u'll have to wait several weeks to be reflected into your statement as "check payment" with a negative charge...

What was the value of the cheque you deposited, and how much SGD did they credit to your account?

 

[supergmail]

by the way... for all those who couldn't answer my queries... from experiences from my friends... i've signed up Citibank card and managed to deposit my US cheques into it... all u need to do is to write the 16-digit CC number at the back of the cheque and drop into cheque collection box at any Citibank branch... u'll have to wait several weeks to be reflected into your statement as "check payment" with a negative charge...


regards,
wacky

is that for usd chq only? so total no addtional cost? what about uk chq?

 

[wackykid]

What was the value of the cheque you deposited, and how much SGD did they credit to your account?

is that for usd chq only? so total no addtional cost? what about uk chq?

i have 2 cheques... one worth USD4.24 the other USD21.74... total credited into my card is USD25.98@1.2117... which gives me SGD31.38...

i dunno about other currency cheques though whether u can do that or not...


regards,
wacky

 

[Godmode]

$21 is actually fine. Used to credit ateast 20-30 USD checks every month and there were all charged @ $21+. i would say switch to wire if u dont want to wait for 3 weeks to clear the check.

 

[wackykid]

$21 is actually fine. Used to credit ateast 20-30 USD checks every month and there were all charged @ $21+. i would say switch to wire if u dont want to wait for 3 weeks to clear the check.

but the usual way of banking in USD cheques got processing fees that'll wipe out most of the amount right?? and the USD4 cheque will likely to worth LESS than the processing fees...? or perhaps some backs don't have processing fees... i dunno...


regards,
wacky

 

[bean9]

i have 2 cheques... one worth USD4.24 the other USD21.74... total credited into my card is USD25.98@1.2117... which gives me SGD31.38...

i dunno about other currency cheques though whether u can do that or not...


regards,
wacky

Does it still works now?

Is the payee of the cheque you or the bank?

What's the currency exchange rate Citibank use? TT, Cash or OD?