IMPORTANT! Israeli Money Changers NOT accepting US checks

[SamKey]

i dont have usaa checking. when you withdraw money from a atm here you pay zero fees?

Yup and they're not the only one I believe that crapital one also has that

[birne]

Nope, it doesn't look like anyone really knows as the people involved are doing what they need to and keeping their mouths shut.

+1

[how]

Yup and they're not the only one I believe that crapital one also has that

the atm doesn't add on their own service fee?

[SamKey]

the atm doesn't add on their own service fee?

They reimburse you

[how]

They reimburse you

I guess next time im in the us ill need to open such an account, but for now up stuck

[SamKey]

I guess next time im in the us ill need to open such an account, but for now up stuck

you can do it over the phone

[shmuelb]

You can find someone who has cash here and wants it there, you can deposit/cash the check as a payment to his CC or bank account on the phone and he gives you cash.

Also Commerce bank KS,MO etc, doesn't charge for withdrawals by using the debit card inside Bank Hapoalim (asking the teller to give you cash) IIRC.

[how]

You can find someone who has cash here and wants it there, you can deposit/cash the check as a payment to his CC or bank account on the phone and he gives you cash.

Also Commerce bank KS,MO etc, doesn't charge for withdrawals by using the debit card inside Bank Hapoalim (asking the teller to give you cash) IIRC.

Basically if your still in the US and you dont have a Free debit card... then bring along cash

[SamKey]

Basically if your still in the US and you dont have a Free debit card... then bring along cash

Are you a USAA member?

[how]

Are you a USAA member?

No and not planing on becoming one. There are other banks that don't charge.

Either way a free ATM wont solve the problem, there is a limit how much you can withdraw a day and other issues, but its nice to have that option if you don't need that much cash.

[hertzinstl]

Are you a USAA member?

If not, it seems that it might be too late.
http://forums.dansdeals.com/index.php?topic=32560.msg589676#msg589676

[Chaikel]

Spoke to a the head of a money changing chain. Didn't really want to say to much, but he said the issue is depositing checks into a "Clearing House" account. I don't know what that is.

Apparently it's a special account needed to deposit over 1 mil a day in checks (that's my understanding)

[SamKey]

Why is this topic in the "On The Road" thread?

[how]

Spoke to a the head of a money changing chain. Didn't really want to say to much, but he said the issue is depositing checks into a "Clearing House" account. I don't know what that is.

Apparently it's a special account needed to deposit over 1 mil a day in checks (that's my understanding)

Heard something similar, seems like a money laundering issue. Any news when there will be a new system set up?

[elikay]

Spoke to a the head of a money changing chain. Didn't really want to say to much, but he said the issue is depositing checks into a "Clearing House" account. I don't know what that is.

Apparently it's a special account needed to deposit over 1 mil a day in checks (that's my understanding)

All banks work with a clearing house. Apparently when in the money business you can work (almost) directly with the clearing house.

[how]

All banks work with a clearing house. Apparently when in the money business you can work (almost) directly with the clearing house.

Is Kroizer a clearing house?

[PlatinumGuy]

I heard an entirely different story that it has to do with the Israeli government requiring ID, the idea being to make it harder for American charity checks to make it into the charedi system.

[shmuelb]

I heard an entirely different story that it has to do with the Israeli government requiring ID, the idea being to make it harder for American charity checks to make it into the charedi system.

I would not be surprised. Judging by the state of things, I've been telling people that that's probably the next line of decrees the gov. will aim for, Hashem Yishmor(e)! ()

[Jkhein]

http://www.jpost.com/Business/Business-News/Regulatory-clampdown-blocks-changers-from-cashing-US-checks-328271
This is the basic story. As of now some changes are changing for 4%, it's a hassle they have to send it to the US etc.
Not sure what will be coming forward, but probably a big hassle changing checks, having to fill out a form and ID each time and higher fees.
Source: friend that owns change chain.

[moish]

there is a possible solution in sight starting from sunday. daven hard that it works...