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]

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).