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Depositing cheques from United States into my Bankwest account

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Posted by cdurber90 cdurber90
Message 1 of 4 632 Views

I spent 12 months working the US and have recently receive my federal and state tax return cheques. Both have my full name on them.

 

Will I have any issues depositing these into my Bankwest account? Can I deposit these electronically or do I have to visit a local branch?

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Re: Depositing cheques from United States into my Bankwest account

Posted by LyndsC LyndsC
Message 2 of 4 628 Views

Hi @cdurber90, thanks for contacting us in regards to this. Whilst a Foreign Cheque can be deposited into a transactional account, this done need to be done in store. It will also be deposited at the discretion of the Teller - this is because they would need to ensure that all information matches as per your Bankwest account, as well as being required to complete the relevant security checks with the remitting bank. It's also important to note that there is a 30 business day clearance time for these types of cheques, as well as a possible $15 cheque negotiation fee. The applied exchange rate will also be discussed on the day that the cheque is deposited. Thanks!

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Re: Depositing cheques from United States into my Bankwest account

Posted by thewinchester thewinchester
Message 3 of 4 611 Views

Hey @LyndsC, are you sure about those fees?

 

If the original poster is receiving their US Federal tax refund on a cheque drawn against the US Treasury, then V38 Pg. 2 of Your Guide To Banking Fees (http://www.bankwest.com.au/library/pdf/PDS_20040121-160125.pdf) states that cheque would be free if deposited with a 30 day clearing period; or $5.00 if deposited as cleared funds.

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Re: Depositing cheques from United States into my Bankwest account

Posted by LyndsC LyndsC
Message 4 of 4 589 Views

Hi @thewinchester, the possible fee I have mentioned above would apply if the cheque is not a US treasury cheque. As the customer has not mentioned who has issued the cheque I didn't want to make an assumption that it was and not mention the fee.

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