Author Topic: Cheapest way to cash/deposit U.S. check in Israel  (Read 543 times)

Online moe8555

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Cheapest way to cash/deposit U.S. check in Israel
« 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.
« Last Edit: March 21, 2019, 12:58:48 PM by moe8555 »

Online ExGingi

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Re: Cheapest way to cash/deposit U.S. check in Israel
« Reply #1 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.
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Offline Yehudaa

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Re: Cheapest way to cash/deposit U.S. check in Israel
« Reply #2 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.

Online moe8555

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Re: Cheapest way to cash/deposit U.S. check in Israel
« Reply #3 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...

Offline Yehudaa

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Re: Cheapest way to cash/deposit U.S. check in Israel
« Reply #4 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.

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Re: Cheapest way to cash/deposit U.S. check in Israel
« Reply #5 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.
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Offline PlatinumGuy

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Re: Cheapest way to cash/deposit U.S. check in Israel
« Reply #6 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
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Offline shaulyaakov

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Re: Cheapest way to cash/deposit U.S. check in Israel
« Reply #7 on: March 22, 2019, 11:58:43 AM »
Mobile Deposit into a US account and then withdraw cash from ATM?

Offline LoLo

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Re: Cheapest way to cash/deposit U.S. check in Israel
« Reply #8 on: March 22, 2019, 12:04:52 PM »
depositing via camera through a bank app isn't an option.

Offline ~King Lake~

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Re: Cheapest way to cash/deposit U.S. check in Israel
« Reply #9 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

Offline emjee

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Re: Cheapest way to cash/deposit U.S. check in Israel
« Reply #10 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 . 

Offline ~King Lake~

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Re: Cheapest way to cash/deposit U.S. check in Israel
« Reply #11 on: March 31, 2019, 04:09:58 PM »
Wow. Expensive .
Got any cheaper ones over there?

Offline ludmila

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Re: Cheapest way to cash/deposit U.S. check in Israel
« Reply #12 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.
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Offline ~King Lake~

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Re: Cheapest way to cash/deposit U.S. check in Israel
« Reply #13 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

Offline ludmila

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Re: Cheapest way to cash/deposit U.S. check in Israel
« Reply #14 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.
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