Cashing cheque without bank account

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uniu
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Cashing cheque without bank account

Post by uniu » Fri, 23 Aug 2019 7:26 pm

Dear all,

I have done work remotely for my client company and received cheque on my name via traditional post to my home address in residence country.
Can I cash it while visiting Singapore if I don't have bank account and permanent residence here?
Thank you in advance!

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Strong Eagle
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Re: Cashing cheque without bank account

Post by Strong Eagle » Fri, 23 Aug 2019 8:55 pm

Why would someone want to take liability for that check that they cannot verify? That will be your problem for any non-bank entity. Banks won't touch it, either, because of the "know your customer" rules... they don't want the liability of helping out funds related to a criminal enterprise.

And the obvious question: Why aren't you cashing it in your home country?

uniu
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Re: Cashing cheque without bank account

Post by uniu » Mon, 26 Aug 2019 10:15 am

Hi Strong Eagle,

Thank you for your answer.
Could you please tell is my employer can be aware of it? I really don't want to think that they did it this way because they knew that I cannot cash it.

Well I couldn't do it in home. And there is topic about it
https://www.expatindo.org/community/thr ... post-62707

Sincerely
Alexander

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Strong Eagle
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Re: Cashing cheque without bank account

Post by Strong Eagle » Mon, 26 Aug 2019 10:44 am

There are two parts to cashing a check. The first is the person/business that takes the check from you. They take your check, then part 2 is that they must present the check to the issuing bank to get their money from the check they took. And the issuing bank could determine that there is not enough money in the account to cover the check, or perhaps that the check is fraudulent, and refuse to pay it. That is why people will not cash your check.

The only way this is going to work for you is for you to deposit the check in your bank account, somewhere. Banks will accept the check but will not make funds available until the check has cleared the issuing bank. Once cleared, funds will be made available. These days, this is about the only way you can take a check... you must have a bank account into which you can deposit it.

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PNGMK
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Re: Cashing cheque without bank account

Post by PNGMK » Mon, 26 Aug 2019 2:11 pm

You can deposit the cheque in your home country bank account. It will take time to clear and cost a bit more.
I not lawyer/teacher/CPA.
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