How to cash a personal check quickly and cheaply. Traveler's Checks American Express Check Cashing

In Russia, checks have not gained such popularity as in the USA and Europe. However, they exist and can be used for mutual settlements.

A “check” is understood as a written order from a bank client to issue a certain sum of money to the individual in whose name the check is written. If no name is given, the amount is paid to the holder of the check.

A “bank check” can also be understood as a certificate giving the holder the right to purchase a security under certain conditions. The specific price of the security and the validity period of the check are specified. Essentially, this is an addition to a security, drawn up on behalf of joint stock company in the name of the check holder.

Types of bank checks

There are different types of checks:

Settlement or crossed (for transfers from account to account);
Cash (giving the right to pay cash at the bank's cash desk).

Private checks can be:

Registered (issued to a specific person and used only by those whose name is indicated in the document);
Order (issued to a specific person, but can be cashed by any person);
To the bearer (the name is not indicated; anyone can cash the check).

Filling out a bank check

It is not enough to simply write out an order on any paper. A special form is required, which can be obtained from the bank. This form indicates:

Passport details of the person issuing the check;
Bank details (primarily account);
The amount that the bank must transfer to the holder of the check and the timing;
Recipient's passport details, if necessary.

A signature is required. Fill out the check with a ballpoint pen. You cannot edit information.

Using bank checks

Bank checks to securities are used as an additional means of attracting shareholders. They are issued if it is necessary to sell shares or bonds of an open joint stock company.

Private checks are used as a means of payment between individuals or legal entities. They allow you to simplify the procedure for paying for work without cash Money. However, they lose relevance with the advent additional services, simplifying work with plastic and invoices.

Checks are still in demand abroad; in Russia they are most often used for mutual settlements between legal entities.

How to fill out a bank check correctly?

Fill bank check should be carefully. Each form is on the account, as it is issued by the bank. It may not be copied or printed for later use. Unused checks are returned to the bank.

You can only use a ballpoint pen (we recommend using one pen, the opposite may cause suspicion). After filling out the check, you must put a signature and seal, if any.

You cannot make amendments or cross out anything. This eliminates the possibility of cashing out. Before filling out the check, you need to double-check all the data specified in the form. If anything deviates from reality, the check will be invalid.

Cash a bank check

You can only cash a bank check. Settlement (crossed) ones give the right only to transfer funds from account to account. In this case, you have the right to withdraw money from your account.

Cashing checks in Russia is problematic if the drawer's account is in foreign bank. This can be done through collection. The commission is 3% (in particular, at Sberbank), and the entire operation takes about two months. If you're going abroad, cashing a check will be easier.

You can also open a correspondent account and transfer funds to it. This will take no more than a month, but keep in mind that servicing the account will be expensive, and you won’t save on interest.

Validity period of a bank check

Try to cash the check as quickly as possible, as it has a limited expiration date. In Russia, this is usually 10 days from the date the check is issued. Please note that within this period you must submit a check for payment to the bank. You will receive the money itself in the period indicated in financial organization. So, if the drawer holds an account in a Russian bank, the money can be received immediately. If in a foreign country, the process will be delayed.

You can simplify the process by selling the check to another person. This is possible if you were issued an order check or a bearer check.

Business 08/22/2013 Viktor Lavrenko

How to cash a personal check quickly and cheaply

Before I tell you about the simplest and most convenient way To cash personal checks, I recommend that you familiarize yourself with the list of banks that are listed all over the Internet on the list of banks accepting checks for collection. In fact, there are much fewer such banks than can be seen on other sites and forums. In most cases, information from other resources is already outdated and most banks that once accepted checks for collection have long abandoned this service.

As a result of long ordeals, a small list of banks has been compiled so far, about which it is known for sure whether they cash personal checks or not. If you do not live in Moscow, then you don’t even have to waste time on local regional banks; in 99.9% of cases, these banks do not accept checks from foreign banks for collection.

Banks that do not accept personal checks for collection

This list is compiled so that you do not waste your precious time on those banks that definitely cannot cash your checks. In order to find out whether the bank accepts checks for collection, a letter was sent to all the banks listed below or a question was asked by telephone with a question about the possibility of cashing checks, as well as about the conditions and fees charged.

Sberbank— does not accept any checks for collection.
Alfa Bank- does not cash checks from foreign banks (one might say does not cash checks at all, because Russian personal checks most likely do not exist in nature at all).
RaiffeisenBank, aka ImpexBank- does not cash checks.
Uniastrum- does not cash checks.
Mosoblbank- - does not cash checks.
Rosbank- once cashed, now he doesn’t cash.
Uralsib- just like RosBank, it no longer cashes checks. From banks:

Promsvyazbank

Bank of Moscow

no response has been received, so we can confidently assume that these banks also do not cash personal checks from foreign banks.

Banks cashing checks

VTB 24— cashes checks that have the phrase “pay to the order of” on them. Typically, this is the phrase indicated on personal checks. However, VTB24 decided to remain silent about the conditions and tariffs and offered to bring checks to the bank branch.

CitiBank— the only bank that provided all the necessary information on cashing personal checks. However, the conditions for cashing are acceptable only if the amounts of your checks are sufficient to allow you to pay a minimum commission of $25 for each check without regret!

CitiBank's conditions for accepting checks for collection:

CitiBank will cash your checks only after you open an account with CitiBank.
The check must be made out to you.
The currency of the check must be in US dollars or euros.
The check must be issued by a European or US bank.
The check must be valid for no more than 6 months.

CitiBank commission for accepting checks for collection:

Checks in US dollars - 1% of the check amount, but not less than $25 and not more than $300
Checks in euros - 1% of the check amount, but not less than 20€ and not more than 220€

As you can see, cashing checks through banks is not a good idea. First, you must first find a bank that accepts checks for collection. And even if you are satisfied with, say, CitiBank, then you will have to go to Moscow or one of the few cities in which there are branches of this bank. Secondly, the commission is, to put it mildly, high and you are unlikely to find banks for more favorable conditions. And finally, thirdly, the number of restrictions and conditions forces us to look for more acceptable options for cashing checks. And thank God there are such options. Read on to learn about one of these options.

It turns out that in order to cash a personal check you do not need to run to banks and wait several months for your money. Half the work can be done without leaving home, with the help online service ePayServices and it consists of sending scans of receipts via the Internet to this company. The second half of the matter is to send the original checks to her physical adress by mail, or by providing checks at the company's office.

EPayServices is a payment system that, along with other services, provides check cashing services. EPayService cashes personal checks, checks Google Adsense, Amazon and other companies. Through this payment system you will be able to cash checks from banks in the USA, Canada, Europe, Asia, Latin America in different currencies - Canadian and American dollars, euros, pounds sterling (which, as practice shows, not a single Russian bank). The service is available to both citizens of Russia and Ukraine and has offices in both countries, in St. Petersburg and Kyiv, respectively.

At ePayServiece you can cash a check in 1 hour by contacting one of the company's offices.

To cash checks through ePayServices, you must apply to register with the service. The registration form will ask you where your funds are coming from and who the check sender is to see if the company can cash your checks and if it makes sense to open an ePayServies account for you. You will also need to provide your phone number, which will be used for each authorization, just like in online banking. In addition, you will need to provide your passport details and, if desired, details of other documents. Within 24 hours after submitting the application, if everything is fine, you will receive an email notification about opening an account in ePayServices, which will contain your login information.

As soon as you log into your account, you can immediately send scans of checks to the website to accept them for cashing. For this operation, go to the iCheck section. On the page for downloading scans you will see all the requirements for downloaded checks and the conditions for their processing. Once the scanned copies of the checks are accepted, you will receive a notification about this and you will only have to send the original checks by registered mail to the company’s office, the address of which is also listed in the iCheck section.

Check cashing deadlines at ePayServices

The timing of check cashing depends on various factors - the amount of the check, the bank that issued the check, and your rating in the system. For checks issued by US banks, cashing periods range from 2 to 20 days, for checks from banks in other countries - 30 calendar days.

ePayServices Check Cashing Fee

Cash-out fees are also not the same for everyone. ePayServices has two tariffs: “Basic” and “Premium”; there is also a cumulative discount on the service commission. For new users on the “Basic” tariff, the commission is 3-5%. You can find out more detailed conditions on the payment system website.

Most likely, you already have a question about how safe it is to use the ePayServices payment system for cashing checks. EPayServices is not an ordinary fly-by-night exchanger, but an officially registered company in the USA and has everything for cashing checks from third parties necessary permissions and licenses, the details of which are indicated on the website. If you are afraid to send checks by mail to ePayServices, read more about this service on the official website, as well as reviews from other clients of this company. And of course, send checks by registered mail so that if they are lost, they can be tracked. By the way, ePayServices allows you to cash checks that are lost in transit.

To ensure the safety of funds during a trip abroad, you can purchase traveler's checks.

What are traveler's checks?

A traveler's check is financial instrument, representing the obligation of the issuing company American Express to pay the amount indicated on the check to the owner based on a sample of his signature.

What are they needed for?

Free recovery
If lost, stolen or damaged, traveler's checks can be recovered in the country where you are located if all terms of the Purchase Agreement have been met. Please contact the American Express Refund Center for advice.

Ease of use
American Express traveler's checks are issued in various denominations in euros (50, 100, 200, 500) and US dollars (50, 100, 500).

Unlimited validity
Already purchased traveler's checks do not have to be used for one trip - they can be kept at home for as long as necessary until the next trip, since the validity of traveler's checks is unlimited.

Practical to use
American Express traveler's checks are widely used throughout the world (except in countries subject to US economic sanctions). You can exchange them for cash in local currency at many banks and exchange offices. In some countries, shops, restaurants and hotels accept checks themselves. In any case, you must have your passport with you.

No export restrictions
According to the law Customs Union Russia, Kazakhstan and Belarus are allowed to export any amount in traveler's checks abroad. It is important to declare them in writing if total amount in traveler's checks and cash equivalent will exceed $10,000.

How to use American Express traveler's checks

To cash American Express signature-protected traveler's checks, you must present your passport to the cashier and, in the cashier's presence, sign a second signature in the lower left corner of each check. The cashier will compare the identity of the signatures and check the status of the checks in information base American Express, after which it will issue money in rubles or other currencies.

When cashing American Express traveler's checks at Svyaz-Bank, a commission is charged in accordance with the bank's tariffs for transactions with traveler's checks for individuals. We recommend that you clarify in advance the information related to the conditions for accepting and cashing American Express traveler's checks.

Information on cashing conditions can be obtained by calling the Moscow phone number +7 495 9-333-111 and the American Express information service toll-free for Moscow and Russian regions at 8 800 200-222-0. The information service is open daily from 9:00 to 22:00 (Moscow time).

So, you are the proud owner of a check that you want to cash. Whether it is compensation for services, a birthday gift, or just a pleasant surprise, you are ready to receive this money and spend it as quickly as possible. Only you're faced with one problem: you have no idea how to cash checks. Don't worry! Even if you don't have bank account, you can easily cash your check at your nearest bank branch. Here step-by-step instruction the whole process.

Steps

Part 1

Be carefull

First of all, you need to make sure that you can trust the person who gave you this check. This is the most important step in the entire process as a bad or fake check can cause you a lot of hassle. To avoid unpleasant situations, only accept checks from people you know and can trust. If you accept a payment from someone unknown to you (for example, someone offers to pay with a check for your grandmother’s carpet, which you decided to sell through Avito), then it is better to ask for cash, if this option is possible. If you are sure that your check is valid, then before going to the bank, make sure you have the following information:

Correct details (full name and address) of the person who gave you the check
Contact details for this person so you can contact them if you have any problems during the cash out process
Name of the bank issuing this check

Confirm the liquidity of the check before after you cash it out. To do this, you need to sign on the back of the check, immediately after the “x”, on the horizontal signature line. Do not sign the check before going to the bank so that if the check is lost, it cannot be cashed by others. If you do not verify the liquidity of the check, the bank may have difficulty cashing your check.

Cash your check as soon as possible. Some checks, such as checks used by employers, have an expiration date. Even if the expiration date is not written on your check, remember that banks are not required to cash checks that were issued more than six months ago. To get your money quickly and easily, be sure to cash your check on time.

Deposit the check at your bank's ATM. This is another way to cash checks. When you use an ATM to cash a check, the funds will be automatically deposited into your bank account. Please note that this operation may take up to three business days. Meanwhile, if you already have some funds for bank account, you can continue to use them. Either way, it's a quick way to make sure the money gets transferred from the check to your bank account. To deposit a check through your bank's ATM, you must:
- Insert your bank card to an ATM
- Enter your PIN and click "Forward"
- Select "Deposit Check"
- Place a check in the deposit slot
- Confirm the amount for which the check is written
- Withdraw money when it is transferred to your bank account (or sooner if you already have funds in that account)
Use mobile app for a deposit. This new and convenient method, which is being adopted by more and more banks, allows customers to deposit checks into their bank accounts via smartphones. To use this method, you need to download your bank's mobile app on your smartphone, take a photo of both sides of your check, and confirm the amount for which the check is written. This method is similar to cashing a check at an ATM, but requires much less physical effort and time.
- Sooner or later, you will still have to get to the nearest branch of your bank to withdraw the money that has been deposited into your account.

Part 3

other ways to cash a check

Cashing a check at the bank that issued the check. Don't worry if you don't have a bank account. All you have to do in this situation is go to the bank that issued the check (the bank's name will be on the front of the check). Don't forget to bring your identification document! It is also worth remembering that many banks may charge a commission for such services, and will also offer you to open a personal account.
Cash your check in store. Very often, large supermarkets and franchises allow customers to cash checks for a small fee. Typically, this fee is less than that of banks or specialized check cashing companies. For example, in 7-Eleven stores, any check can be cashed by paying a commission of 99% of the full amount of the check, and in Wal-Mart stores the commission is only three dollars for checks up to $1,000.
- As previously noted, do not sign the back of your check until you are in front of the cashier who is cashing the check for you.
Contact specialized check cashing companies only as a last resort. This option should only be used in special cases because such companies charge large percentage on a commission from each check. At the same time, these companies are usually the most in a fast way receive money in your hands and, depending on your place of residence, can be open around the clock, without breaks or weekends. The high fees are justified by the serious risk companies face in cashing all the checks they receive.
- These companies are well aware that they are dealing with clients who urgently need money and take advantage of their desperate situation.

After purchasing a car at an auction in America, they remain small amounts funds, the so-called “tails”. Auctions do not like to return them, offering to credit them to renew your account or leave them until the next purchase, and if you have purchased one car and do not plan to participate in the auction in the future, then the desire to return your hard-earned money will triumph.

In my practice, there were no refunds and I decided, as an experiment, to try to return a certain amount from my account balance. To speed up the process, I called the States and asked the senior manager in charge of the Russian region how to do this. I was asked to confirm by e-mail my Moscow postal address and that’s all.

As you understand, I have encountered various problems at auctions and naturally I know the auction administrator and they know me and maybe it’s easier for me to solve something (by the way, they asked me not to recommend a refund to anyone), and you, as a newbie, may be “downloaded” .

Please know that no matter how much you are persuaded, the money must be returned and will be returned., but not money to your bank account, but in the form of a paper that is not understandable to everyone, in a simple postal envelope, entitled " American check" As I assume, you have not often encountered this, which is why I am writing instructions for cashing American checks.

In fact, it's full-fledged payment document and in all countries of the world it is unconditionally accepted for payment, taking a few minutes of time. We have our own way and the attitude of banks towards such securities is, to put it mildly, not friendly.

Let's summarize and draw conclusions:

1. If your mailbox is broken or you are not the only one “visiting” it, open a temporary mailbox at the nearest post office, but only at the address you indicated during registration at the auction.

2. Do not ask to send a check by registered mail, it will take even longer. Ask the check to indicate a longer period for cashing or not indicate it at all.

Information is current as of July 2010.

Address of the branch where I processed the transfer: Moscow. Prospekt Mira 120/1 (M - Alekseevskaya) Bank - Moscow.

Since 2011, withdrawing money from an auction has become much easier.

The entire amount is returned to your foreign currency account in Russian bank, and within one working day. To do this, you must have or open a foreign currency account in any bank (where you can open a foreign currency account!) and send the details by e-mail to the auction manager.

Example:
Account name: ALEKSEY SILAEV (Your initials)
Account number: 40817840800000005892 (Your account number)
Bank Name: RUSSIAN REGIONAL DEVELOPMEN BANK (PJSC "RRDB" - the name of your bank in English)
Swift: RRDBRUMM Account No. 400940760 (information about the bank in the Swift system)
Correspondent Bank name: JPMorgan Chase Bank, New York swift: CHASUS33 ABA 021000021 (correspondent bank)

These four lines are enough to receive money within 24 hours, taking into account the time difference between the USA and the Russian Federation.