Banking US Checks In Australia
 

Any Oz residents know an Oz bank that will take US check deposits without charging an arm and a leg to clear them?

Hell yeah...



:thumbsup


:glugglug :glugglug

Do you know that Crocodile Hunter guy?


shemp

You are basically stuck paying an arm and a leg. Cheapest I think is about $6 a cheque.

up your sponsor cheque minimums so you only get US$100 - US$200 cheques so the fees are only 1-3% of your income.

Fletch, you still thinking of coming to Australia for a holiday?

NAB will take five at a time.. and charge you 10bucks, not fucking bad...

cheers
Nurgle

Crikey! The damn aussies ate all my money!

Can you open a US dollar account? It might be less to cash US checks into a US account. Then every once in awhile you can transfer US to Australian.

B40 thats a lot more expensive

10$ for 5 cheques is pretty damn cheap, and its tax deductable anyway.... (only $5US remember!)

I would be interested to know if anyone knows of somewhere cheaper in Oz :)

Nurgle

Just from my experience with Canadian banks, that is the cheapest way to go.

In Canada, there's no charge to deposit US checks into a US dollar account. There's a small fee ($1-2) to transfer from US to Cdn. Also the exchange rate isn't that great either.

But overall, it's better than cashing US checks into US accounts. Don't know how it is in Australia, but that's the cheapest way in Canada.

I also have to bank US$ in Australia ....

Try Travelex ... NO FEES AND MUCH BETTER RATES THAN BANKS AS WELL...

The catch .... You need to set up a commerial account, so you need to be a company.. easy as pie.

Hope this helps all the aussies that need it :)

About 75% of the time I dont pay fees at suncorp metway. The odd teller charges me and its AUS$5 per cheque but usually they say yes your a regular customer and waive the fee. :thumbsup

heh thats still good...here in sweden it costs $12 per check for me...

dont moan. in the uk you pay at least 12usd a cheque

Actually it doesn't normally effect me, I have an account in the US and a debit credit card, saves losing money on exchange rate conversions as well.

Damn, they never do that for me.

I'm in Brisbane too.. Which SM branch do you use??

I deposit my cheques at Heritage Building Society at Carindale and get charged $7.50 each. I used to bank them with Westpac but those fuckers charged a goddamn commission on each one which ended up costing me an arm and a leg if the cheque was for a large amount.

Has anyone had any success with using Paypal to deposit funds into an Aussie Bank account?

no luck here

Suncorp Metway bank charges $5 AUD for a US check

I was doing that quite a bit, only takes about 2 business days.

The thing is their exchange rate sucks - its normally 5-10% worse than the banks and then theres the $2.75 fee, so on a big amount you are talking a reasonable amount of cash down the tube.

Commonwealth Bank charges $7 a cheque but sometimes they only charge $7 for four or five cheques.

They put a 30 day hold on the funds though.... is this normal for the other banks?

Go and talk with your CWB branch - They don't put a hold on my checks anymore. Just go and show them some history of checks being accepted in the past.

But lucky if you get away with depositing several checks for a one-off fee! That only worked the first 4 or 5 times until somebody woke them up and spread the word :(

Can anybody tell us about their experience with an US based account and an attached debit card? Secure? Easy (or difficult) to set up???

BTW: I deposited some of my checks in Germany - that's REALLY expensive = don't moan about 5-7 AUD.

Not really related - but anyhow:
anybody's heading to the Surfers' meeting this Friday?<br>&nbsp;<br>

I use CBA and dont have a hold put on my cheques when I use my local branch. but some branches can get funny about it.

The best thing to do is spend the time waiting for all the paperwork getting done to make friends with the staff.

The local guys are so used to me that they send the new tellers to me so I can teach them how to process foreign cheques :1orglaugh

I had a friend in Darwin who couldnt talk them out of the 30 day hold. When I was up there doing his banking for him I got chatting and told them how I didnt get a hold on my funds and that fixed that :thumbsup

That dude is awesome...they copied him on Bum Fights....

cool im going to ask CBA to waive the 30 hold, hopefully they will still be kind on the fees

I just cash all my cheques in one sitting. ANZ charge 15 dollars to cash foreign cheques, regardless of how many you cash. So, if you do a bunch at once, it's hardly costing you anything anyways.

I AM!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Yeah I just did that this week. The fees are quite high though.
And katie - the gap