[DacBietViet]

I heard that it is hard for US customers to cash it because banks will put it on hold because the checks are from Montreal. Is this true?

[bigboydan]

From my understanding that is true sir. Some banks will send it through international collections, which could take anywhere from 2-4 weeks time. Anyways, Here is a thread that would best explain this subject.

[Cannon]

My bank gives me credit instantly.

[KC]

32 days for the last check from matchbook to clear...i have gotten several american bank checks from them in the past that clear in a couple days, hopefully they will get back on track now

[DacBietViet]

does it depend on what bank u have?

[Arilou]

For Washington Mutual, checks over $5K are annoying, but $5K seems to go over all right.

[michael777]

deposited 1 of those canada checks today,cleared instantly

[bigboydan]

2nd check cleared today after 39 days minus $87 in fees, 15 from my credit union.Intermediary banks must have charged 72. My other bank charged only a $10 fee in total. Friggin banks!

Wow!

$87 in fees is nuts Kieth.

You might want to look into other banks and checkout what they charge for these types of transactions.

[TLD]

If you deposit a check and it turns out to be no good—whether they find out after one day or a hundred days—you’re still on the hook for the full amount.

What varies from bank to bank is their policies on when they’ll give you access to your money from that check. And it can also vary from customer to customer.

In effect, what their policy is saying is “OK, if nothing bad happens in x number of days on this check, it’s probably good,” and then they let you have the money. But again, if they find out it’s no good later, it’s not like it’s on them now for “clearing” it; you’ll still have to reimburse them that money.

So you can certainly shop around for banks with shorter hold periods on Canadian checks. I myself don’t put a high priority on that, because I’m just as desirous as them that I not spend that money until we’re sure the check’s good (since it’s not uncommon due to processor issues for sportsbook checks to bounce nowadays). So I’d voluntarily leave the money in my bank account for awhile anyway, even if there was not a hold on it.

The other thing, though, is the fees. Those are definitely avoidable. I’ve lived in multiple different states and banked at many banks since I’ve been playing offshore. And a decent number of the sportsbook checks I’ve received have been from Canada or some other foreign country. I’ve yet to ever have to pay a fee to deposit such a check at any bank. I don’t doubt that it happens—I don’t think people would just lie and post that for no reason—but don’t think of it as some inevitable part of dealing with Canadian checks or WSEX/Matchbook or what have you. It’s just your bank gouging you.

And most banks won’t. So change banks.