Originally Posted by
malcolmkettering
If I tried to deposit a check drawn in USD on a US bank in my country, I've been told it would take upwards of 30 days to clear and for the funds become available. Checks are very US-centric these days and most of the rest of the banking world has long moved on.
Not in my country - I depositted a cheque drawn on a US bank to my credit union (NOTE, NOT a bank) here in Australia a few weeks ago, and they cleared it in five working days (I don't know if the intervening weekend helped out there).
And this is with a credit union, not a bank, and the credit union has to pass it through the banking process, meaning it adds an extre process into it all.
Seems like some countries financial systems are a little bit backward when it comes to dealing with other countries financial systems.
Dave