Quote:
Originally Posted by will76
I have a question for the countries that have banks that charge for checks.... Do they charge because it is a foreign check or do they charge for all checks even local ones?
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It's cause It's a foreign check. I have to pay $20 per and wait 14 day's to clear. Why they do this is cause no one ever uses checks any more and when they get a foreign check in they have to first send It to the main office of the bank that then sends the check to their partner US bank that clears the check. As this is done by snailmail there is a obvious fraud risk if they were to pay out the money right away. Also as they explained to me ~7 years ago when I last cashed a check the fee is cause there is a history of big bounce rates on foreign checks.
If I were to cash a Swedish check(dont know if they exist any more :P) It would cost 0