Years ago, ( i am not telling how a decade gone so quick) I moved to Europe for work and my webmaster checks started to come there. I was paying way too much for fees. And they hold the fund for 20 work days. Which is 4 weeks if there is no holidays in between. Otherwise more than 4 weeks.
Always be nice to the bank manager!
After a few visits, she advised me to prepay a small fee in advance for every check deposit, so the check clears into my account at exact amount instead of paying a higher percentage fee from the check total amount.
She was a hottie, wish i made my move back then, lol.
cheers,
bobby
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Originally Posted by rowan
If you think you're paying too much to deposit checks, or the bank holds your converted funds for too long, why not ask your bank if they can do you a better deal? If they can see that you've been regularly depositing checks with no dramas (like half of them being returned) then they should be prepared to lower their "risk barrier" and treat you like a valued, loyal customer.
It probably helps if you have a major product with them such as a car or home loan, cash management account etc.
I started off paying a fee per check and waiting between 28 working days and 4-6 weeks. Now I get them cleared on the spot for a single fee per batch.
You'll never know unless you ask...
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