Cheques: Any Fintech banks or EMIs which accepts them?

[curiousmarv]

I recently got a cheque for my company (crossed a/c payeer) and it seems I have to create a new local bank account (Cyprus) just to get the money from this cheque because all my foreign bank accounts do not process cheques at all (did not expected to receive a cheque ever).

Just want to know if anybody knows and has experience with a fintech bank or EMI and cheques?

 

[extremedox101]

EMI that accept checks for you? i think there are options but not reliable

 

[W4rhol]

At my knowledge there is not EMI who provide such services.

 

[curiousmarv]

I've also (re-)thought about this for a while. Maybe it's also not good in general. Cheques clearance from another country can take ages (even 1-2 months). So I really create a local bank account for getting the money from this cheque 🙁 I'm now pretty sure it's the fastest way.

 

[bizniz]

There are cheque cashing services that can cash a/c payee cheques. You can search them online. They charge a lot (5-10%) and might take a month or two to pay out, but it could be easier than the hassle of setting up a whole new bank account especially for 1 cheque.

 

[extremedox101]

bizniz said:
There are cheque cashing services that can cash a/c payee cheques. You can search them online. They charge a lot (5-10%) and might take a month or two to pay out, but it could be easier than the hassle of setting up a whole new bank account especially for 1 cheque.
Click to expand...

can you name them ?

 

[curiousmarv]

btw I ended up not creating a new bank account for the cheque... it was sorted with a bank transfer from the other side and making the cheques invalid. I really hope that cheques will die out and even become an not allowed payment method anymore (in some countries it's the case already). This things are harder to cash out than crypto for me, especially when it becomes a cross border thing (cheques from another country).