OT: will BMO or TD accept an Italian check?
Aug 29, 2006, 10:40 pm
#1
Original Poster
Join Date: Apr 2005
Location: Sxm
Programs: Aeroplan, AAdvantage, Flying Blue, TrueBlue
Posts: 253
OT: will BMO or TD accept an Italian check?
Hi,
an Italian company has issued me a check worth almost 1,000 euros.
The check reports my name and is marked as "non-transferable". This means that I am the only person who can cash it or deposit it onto an account. Additionally the check is "barrato" (two black lines are present on it) which means I MUST deposit it on a bank account.
I don't have a bank account here in Italy and it is not my intention to open one. In two days I'm flying back to Canada where I have accounts with both BMO and TD. Do you think that any of these two banks will accept this Italian check? Do you have any idea of how much they would charge me for the service?...at this point I honestly don't care about time. All I care about is that I get the money before the check expires (in 3 months).
Any first hand experiences about cashing Europeans checks in Canada?
Thanks a lot!
PS sorry about the American spelling of "cheque"....I just noticed I used it.
an Italian company has issued me a check worth almost 1,000 euros.
The check reports my name and is marked as "non-transferable". This means that I am the only person who can cash it or deposit it onto an account. Additionally the check is "barrato" (two black lines are present on it) which means I MUST deposit it on a bank account.
I don't have a bank account here in Italy and it is not my intention to open one. In two days I'm flying back to Canada where I have accounts with both BMO and TD. Do you think that any of these two banks will accept this Italian check? Do you have any idea of how much they would charge me for the service?...at this point I honestly don't care about time. All I care about is that I get the money before the check expires (in 3 months).
Any first hand experiences about cashing Europeans checks in Canada?
Thanks a lot!
PS sorry about the American spelling of "cheque"....I just noticed I used it.
Aug 30, 2006, 1:59 am
#2
Join Date: Jun 2004
Location: Europe
Programs: Oneworld & Star Alliance
Posts: 205
Yes, your Canadian bank should agree to cash the cheque via correspondent banks. And it does take a while for the cheque to clear, but as you said that isn't an issue for you. However, last time I had an international cheque processed, the fee was something like C$50 in total (I am with CIBC).
I would recommend that you take the cheque to a branch of the issuing bank while you remain in Italy. Despite not being a customer, if you explain your situation, I expect they may well cash it for you.
It's my understanding the two black lines/barrato (which is also done in the UK) is an indication the cheque is non-endorsable, not that it has to "go into a bank account".
I would recommend that you take the cheque to a branch of the issuing bank while you remain in Italy. Despite not being a customer, if you explain your situation, I expect they may well cash it for you.
It's my understanding the two black lines/barrato (which is also done in the UK) is an indication the cheque is non-endorsable, not that it has to "go into a bank account".