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DansDeals Forum => General Discussion => Topic started by: moe8555 on March 21, 2019, 12:54:51 PM

Title: Cheapest way to cash/deposit U.S. check in Israel
Post by: moe8555 on March 21, 2019, 12:54:51 PM
I'm sure lots of you have had to cash or deposit a U.S. check in Israel - what's the cheapest way?? (The check is for deposit only to named payee, so I don't think it can be endorsed to a different entity).

And to quash any potential questions about "funny business" - the payee is me and depositing via camera through a bank app isn't an option.
Title: Re: Cheapest way to cash/deposit U.S. check in Israel
Post by: ExGingi on March 21, 2019, 02:35:14 PM
I'm sure lots of you have had to cash or deposit a U.S. check in Israel - what's the cheapest way?? (The check is for deposit only to named payee, so I don't think it can be endorsed to a different entity).

And to quash any potential questions about "funny business" - the payee is me and depositing via camera through a bank app isn't an option.

I don't know about Israeli options, but if you have a Schwab bank account you can deposit by mail too, and ATM fees are reimbursed globally.
Title: Re: Cheapest way to cash/deposit U.S. check in Israel
Post by: Yehudaa on March 21, 2019, 03:26:08 PM
I'm sure lots of you have had to cash or deposit a U.S. check in Israel - what's the cheapest way?? (The check is for deposit only to named payee, so I don't think it can be endorsed to a different entity).

And to quash any potential questions about "funny business" - the payee is me and depositing via camera through a bank app isn't an option.
With TD, I mail checks (from Israel) to my branch if they can't be deposited on the mobile app.
Title: Re: Cheapest way to cash/deposit U.S. check in Israel
Post by: moe8555 on March 21, 2019, 04:32:30 PM
I was hoping for a solution within Israel...the check is only about $25 and I was hoping there was a bank with low fees to just cash it or deposit it...
Title: Re: Cheapest way to cash/deposit U.S. check in Israel
Post by: Yehudaa on March 21, 2019, 04:37:43 PM
I was hoping for a solution within Israel...the check is only about $25 and I was hoping there was a bank with low fees to just cash it or deposit it...
Only thing that I can think of is to try depositing it in any Israeli bank account in your name. They'll probably take a good few percent to convert to ILS and also put a hold on the funds for a really long time, but that's the only thing I can think of in Israel.
Title: Re: Cheapest way to cash/deposit U.S. check in Israel
Post by: ExGingi on March 21, 2019, 04:42:19 PM
I was hoping for a solution within Israel...the check is only about $25 and I was hoping there was a bank with low fees to just cash it or deposit it...
The post office is within Israel, and the postage to mail to Schwab is likely to be lower than whatever any other place would charge you. And deposit will probably be available sooner that with alternative mentioned above.

The Schwab account has no minimum balance requirements or fees.
Title: Re: Cheapest way to cash/deposit U.S. check in Israel
Post by: PlatinumGuy on March 21, 2019, 07:55:51 PM
Only thing that I can think of is to try depositing it in any Israeli bank account in your name. They'll probably take a good few percent to convert to ILS and also put a hold on the funds for a really long time, but that's the only thing I can think of in Israel.
Theyll charge a fee higher than 25
Title: Re: Cheapest way to cash/deposit U.S. check in Israel
Post by: shaulyaakov on March 22, 2019, 11:58:43 AM
Mobile Deposit into a US account and then withdraw cash from ATM?
Title: Re: Cheapest way to cash/deposit U.S. check in Israel
Post by: LoLo on March 22, 2019, 12:04:52 PM
depositing via camera through a bank app isn't an option.
Title: Re: Cheapest way to cash/deposit U.S. check in Israel
Post by: ~King Lake~ on March 24, 2019, 06:06:34 PM
not sure where you are located but in Jerusalem there a yid called "Ezrial Weiss" he cashes checks for about 3% he is in satmer shul - even ha'azel during the morning hours, in brisk yeshiva on grosberg lunchtime and in beis yisrael on even ha'azel at night
Title: Re: Cheapest way to cash/deposit U.S. check in Israel
Post by: emjee on March 31, 2019, 04:08:34 PM
not sure where you are located but in Jerusalem there a yid called "Ezrial Weiss" he cashes checks for about 3% he is in satmer shul - even ha'azel during the morning hours, in brisk yeshiva on grosberg lunchtime and in beis yisrael on even ha'azel at night
Wow. Expensive . 
Title: Re: Cheapest way to cash/deposit U.S. check in Israel
Post by: ~King Lake~ on March 31, 2019, 04:09:58 PM
Wow. Expensive .
Got any cheaper ones over there?
Title: Re: Cheapest way to cash/deposit U.S. check in Israel
Post by: ludmila on March 31, 2019, 04:10:32 PM
Wow. Expensive .
Money changers charge anywhere from 1% to 5% depending on the amount of the check.
Title: Re: Cheapest way to cash/deposit U.S. check in Israel
Post by: ~King Lake~ on March 31, 2019, 04:22:50 PM
Money changers charge anywhere from 1% to 5% depending on the amount of the check.
Please tell me anyone charging 1% for smaller checks, don't think you'll find
Title: Re: Cheapest way to cash/deposit U.S. check in Israel
Post by: ludmila on March 31, 2019, 04:24:45 PM
Please tell me anyone charging 1% for smaller checks, don't think you'll find
Correct, that is why I said depends on amount of check.
Title: Re: Cheapest way to cash/deposit U.S. check in Israel
Post by: ~King Lake~ on March 31, 2019, 05:25:21 PM
Correct, that is why I said depends on amount of check.
and another thing to keep in mind that a lot of check cashers wouldn't take your check if they don't know you, Weiss takes your check either way he just takes your phone number.
second, he takes 3% even if the check is written out to a name if the check has no name he only takes 2-2.5%