Cashing Overseas Cheques in Taiwanese Banks

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Cashing Overseas Cheques in Taiwanese Banks

Postby rickychan » 12 Dec 2011, 17:49

Can I cash an overseas cheque at Taiwanese bank? I'm expecting to receive a HSBC Hong Kong cheque in the next few days. I have accounts at Post Office Bank (郵局銀行) and Taiwan Bank (台灣銀行). Are there any charges associated with cashing the cheques? How long will I have to wait until the cheque is cleared and I can use the funds? I'd appreciate any advice. Thanks!
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Re: Cashing Overseas Cheques in Taiwanese Banks

Postby Joschka » 12 Dec 2011, 19:07

rickychan wrote:Can I cash an overseas cheque at Taiwanese bank? I'm expecting to receive a HSBC Hong Kong cheque in the next few days. I have accounts at Post Office Bank (郵局銀行) and Taiwan Bank (台灣銀行). Are there any charges associated with cashing the cheques? How long will I have to wait until the cheque is cleared and I can use the funds? I'd appreciate any advice. Thanks!


On one occasion I deposited a US$ check in my HSBC account. It took them SIX weeks to credit me the $1,800 which was a tax refund from the State of Maryland. There were no fees other than the normal exchange which was priced at the end of the wait.

It would have been easier for me to mail the check back to my bank in the US. Faster too.
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Re: Cashing Overseas Cheques in Taiwanese Banks

Postby fh2000 » 13 Dec 2011, 12:17

I often send a personal check from LA to my sister in Taipei. She deposits into her City Bank of Taipei account with a fee of few hundred NTD and it takes few weeks to clear.
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Re: Cashing Overseas Cheques in Taiwanese Banks

Postby kevinsang01212 » 31 Mar 2012, 09:40

Yeah it takes a while to process oversea checks in TW.

It will take even longer if it is not in USD :(

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Re: Cashing Overseas Cheques in Taiwanese Banks

Postby tommy525 » 31 Mar 2012, 15:07

Each bank has its own fees. One bank, I forgot the name, charged 300nt per check no matter the amount (up to 1 million us dollars). And it took about 8 weeks to actually see the money in the account, getting the exchange rate of the day it deposited.

On that note , recently went to Taiwan and wanted to cash Amex Travelers checks (yes silly me). Found them totally uncashable in Indonesia and in Taiwan at CKS airport they wanted 200nt per 100 USD travelers check. In Taipei no banks would do it without either a local guarantor or they wanted to deposit into the account and have you wait for the funds to arrive (and theres a service charge too).

Finally changed them at a bank at the Songshan airport (upstairs) where i changed 500 usd (the max they allow) into ntd and they charged me a total of 400nt service charge. Only reasonable bank . They only took AMEX travelers checks too.

So checks of all kinds are a hassle, take along time to clear if you have to bank them and theres a service fee.
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