able to cash Foreign cheques in canada??
 

hi there...just wondering if anyone knows if you are able to cash foreign cheques into your Canadian bank account..>????

would be a great help to me if some knows...thank you very much in advance...:):thumbup:

Re: able to cash Foreign cheques in canada??
 

Yes you can - costs, mind you.

Re: able to cash Foreign cheques in canada??
 

i've desposited British cheque into my Canadian chequing acct many with no problems and at NO cost :)

Re: able to cash Foreign cheques in canada??
 

Yes you can, cheques get a better rate than the cash rate. What you get depends on your account type and the amount deposited. Premium accounts often get a preferred exchange rate. Whether you have to pay do do this depends on the account you have. Royal Bank VIP account holders do not pay any fees for this facility for example and get a better than posted exchange rate.

Re: able to cash Foreign cheques in canada??
 

Hi Maple Leaf, we use CIBC Bank and they always cash our English and Danish cheques free.

Re: able to cash Foreign cheques in canada??
 

OP's question dealt with. Post number 6. This thread is now available for absurd theatrics and slagging each other off.

Re: able to cash Foreign cheques in canada??
 

hi there..thanks for the replies that were very useful!!....all experiences help to validate each others.....cheers!:thumbsup:

Re: able to cash Foreign cheques in canada??
 

I've deposited UK cheques into my CIBC account sometimes it takes a while to clear. Other than that the only problem I've had is when the cheque is marked "A/C payee only" with two parallel lines drawn across the cheque, they look at it and think it's a cancelled cheque. Also (this probably isn't relevant to you) if it's a Northern Ireland bank you need to explain sometimes that it's Pounds Sterling not Euro's.

Re: able to cash Foreign cheques in canada??
 

thank you very much..very helpful!

Re: able to cash Foreign cheques in canada??
 

;) No it's not, love - wrong forum!

Re: able to cash Foreign cheques in canada??
 

Yes and yes. TD cashed it for me at an extremely favourable rate. The girl also cleared it straight away since I had the funds available to easily cover the value of the cheque.

Re: able to cash Foreign cheques in canada??
 

thanks!!!! isnt' it great!

Re: able to cash Foreign cheques in canada??
 

I have appointment with HSBC to open accounts on my reccie. They told me that I can deposit a UK cheque but there is a 30 day clearance period!

Re: able to cash Foreign cheques in canada??
 

hmm i think maybe it depends on what bank you use.??.as the CBIC have since told me it is 5 days for canadian and could up to 15 for international..depending on how long it takes to actualy clear the funds.

Re: able to cash Foreign cheques in canada??
 

yea it depends really on how long u have banked with them, my bank clears mine on the same because they always clear and ive banked with them for 4 years.