Cashing physical checks

[ricky1]

Hi friends of offshorecorptalk,

I'm writing to you today to ask for your help. I have an LLC (I'm a foreign owner) registered in New Mexico since 2022, processing payments with Stripe through my payment gateway without any issues.

When I started this business, I was able to open a Relay and Mercury account, but last year, my Mercury account was closed, and then my Relay account (on different dates).

Mercury proceeded to send me an ACH transfer of my remaining balance without problems, but Relay issued two checks to my registered address, which I was able to bring to my country. I've tried to cash them at different local financial institutions, even showing documentation to prove that I'm the sole owner, but I haven't been successful. They won't let me cash the money or deposit it because it's a foreign company.

Is there any solution to cash these checks? I have them physically in my possession, unable to cash them. I have a virtual account for my company where I could receive them via ACH, but they don't accept checks.

I thought about creating a US business PayPal account, but I believe they require an ITIN, and I only have my company's EIN.

If anyone has information or offers a similar service, I'm willing to pay for the help.

Thank you in advance for your recommendations.

 

[daniels27]

You may be able to endorse the check and then cash it a your personal US bank account.
https://www.pnc.com/insights/personal-finance/spend/how-to-endorse-a-check.html

Checking US checks abroad it most often highly expensive if even possible I think it was possible in Germany, but banks are also closing this option as it was rarely used and expensive for the bank.

 

[SCHLOSSFINANZ]

amount?

 

[ricky1]

daniels27 said:
You may be able to endorse the check and then cash it a your personal US bank account.
https://www.pnc.com/insights/personal-finance/spend/how-to-endorse-a-check.html

Checking US checks abroad it most often highly expensive if even possible I think it was possible in Germany, but banks are also closing this option as it was rarely used and expensive for the bank.
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I think I need a US personal account for that, but I don't have one, I'm a foreign owner.

SCHLOSSFINANZ said:
amount?
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There are 2 checks, around $6000 added together.

 

[daniels27]

Maybe someone may be able to help?

Have you tried PayPal?
https://www.paypal.com/us/digital-wallet/manage-money/cash-check

 

[ricky1]

daniels27 said:
Maybe someone may be able to help?

Have you tried PayPal?
https://www.paypal.com/us/digital-wallet/manage-money/cash-check
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I think they ask for an ITIN to register, I can process it but it takes several weeks, maybe when I get the check it will expire

 

[SCHLOSSFINANZ]

unfortunately the amount is too low to get it cashed overseas

 

[daniels27]

SCHLOSSFINANZ said:
unfortunately the amount is too low to get it cashed overseas
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It would be possible. But his main problem is that the check is not in his name.

 

[daniels27]

ricky1 said:
I think they ask for an ITIN to register, I can process it but it takes several weeks, maybe when I get the check it will expire
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Used to be possible without. Now sure about now.

Otherwise, you can ask somebody here, endorse the check and then he can deposit in his personal account and give you the money 1 month later when the check processed for sure.

 

[EUman]

ricky1 said:
Hi friends of offshorecorptalk,

I'm writing to you today to ask for your help. I have an LLC (I'm a foreign owner) registered in New Mexico since 2022, processing payments with Stripe through my payment gateway without any issues.

When I started this business, I was able to open a Relay and Mercury account, but last year, my Mercury account was closed, and then my Relay account (on different dates).

Mercury proceeded to send me an ACH transfer of my remaining balance without problems, but Relay issued two checks to my registered address, which I was able to bring to my country. I've tried to cash them at different local financial institutions, even showing documentation to prove that I'm the sole owner, but I haven't been successful. They won't let me cash the money or deposit it because it's a foreign company.

Is there any solution to cash these checks? I have them physically in my possession, unable to cash them. I have a virtual account for my company where I could receive them via ACH, but they don't accept checks.

I thought about creating a US business PayPal account, but I believe they require an ITIN, and I only have my company's EIN.

If anyone has information or offers a similar service, I'm willing to pay for the help.

Thank you in advance for your recommendations.
Click to expand...

What is your country of origin?
If you are from EU, i can send you DM for a European company that is cashing my USD checks on a regular basis and they paying out in USD.

 

[daniels27]

EUman said:
What is your country of origin?
If you are from EU, i can send you DM for a European company that is cashing my USD checks on a regular basis and they paying out in USD.
Click to expand...

He can ask anybody here on OCT with a US bank account. They can cash it out. Just a matter of trust as the check could be cancelled or cashed already.

 

[ricky1]

EUman said:
What is your country of origin?
If you are from EU, i can send you DM for a European company that is cashing my USD checks on a regular basis and they paying out in USD.
Click to expand...

I'm from Peru 🙁

daniels27 said:
He can ask anybody here on OCT with a US bank account. They can cash it out. Just a matter of trust as the check could be cancelled or cashed already.
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What do you mean? I actually have no problem waiting the necessary days for the check to be cashed. Is there a company that does this?

 

[aniglo22]

Interbank should do it . (https://content-us-2.content-cms.co...df-83ca2c44b334/TAR-0105B.pdf?t=1698330105636)

9. Depósito con chequedel exterior (EE.UU)(5)(6)(10)No aplica 0.45% US$ 12.00 US$ 180.00XX/XX/2016Emisión nota abono/débito No aplica US$ 1.25XX/XX/2016
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Translation :

Deposit with a foreign check (USA)

• Fee: 0.45% (Minimum: US$ 12.00, Maximum: US$ 180.00)
• Debit/Credit Note Issuance: US$ 1.25
• Effective Date: XX/XX/2016

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