Internation checks take 30 days to clear :(

Discussion in 'General Business' started by richkid, Feb 2, 2008.

  1. #1
    I got my first clickbank check about a week ago. I took the check to my bank and they informed me that the check would take 30 days to clear because they had to confirm that the american bank had the money in their account. Plus they charged me about $20 in fees..haha

    Oh well I guess its money so I cant complain.
     
    richkid, Feb 2, 2008 IP
  2. pondlife

    pondlife Peon

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    #2
    Which country are you based in?

    I'm in the UK and get charged between 2 and 8 GBP per cheque (yes that's how we spell check in the UK) but they clear within a few days.
     
    pondlife, Feb 2, 2008 IP
  3. nick2007

    nick2007 Well-Known Member

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    #3
    Are you from Russia or Ukraine
     
    nick2007, Feb 2, 2008 IP
  4. richkid

    richkid Well-Known Member

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    #4
    I am from Australia. Maybe its just the commonwealth bank over here (my bank).
     
    richkid, Feb 2, 2008 IP
  5. eddy2099

    eddy2099 Peon

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    #5
    Well, that's basically what you get from International Checks. For me, it would take 30 working days so it would be a little over a month to get a US check clear here in Singapore. At the same time, there are two sets of fees being levied, one by my local bank and one by the US intermediary bank.

    Overall, if the check is less than US$25 it would be pretty much worthless. I remembered trying to bank in a US$20 check and the bank teller was nice enough to tell me that I would get nothing out of it and still need to pay some fees for clearing a check, he said it would be better if I just keep the check as a souvenir if I cannot get the payer to send me through an alternative means.

    Basically foreign checks cannot be processed locally and they need to be sent back to the bank which issue them in the country it was issued. So there are a lot of procedures involved. I am not sure if they still need to send back the physical check for verification and clearing.
     
    eddy2099, Feb 2, 2008 IP
  6. richkid

    richkid Well-Known Member

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    #6
    haha...that is why I like Commission Junction more that Clickbank! CJ sent their check from Bank of America (which has a branch in Sydney) and was in Australian dollars - so no fees!
     
    richkid, Feb 4, 2008 IP