: How much do Hong Kong banks charge to cash U.S. checks Do they charge a %, or is it a flat fee?

Vote Up Vote Down   0 Reactions

Login to give Reaction!

It depends on the Bank. Most Hong Kong Banks will charge a flat fee, though the fee varies from bank-to-bank (typically between HK - HK). Pretty much any major bank will cash a Traveler's Check or a Certified Check, but if you are talking about a regular check, you will likely have to use a bank that has branches in both the U.S. and Hong Kong like HSBC, and then there may be a 2-3 day waiting period depending on how long you've had an account with the bank and what your account standing with them is.

Vote Up Vote Down   0 Reactions

Login to give Reaction!

In Hong Kong, there are two ways to cash a US check.

Clean bills purchased by receiving bank

Fee: 0.25% to 0.375% on lump sum

Time: Immediate if you have a good standing history and collateral, e.g. time deposit. About 1 week otherwise.

Clean bills sent for collection

Fee: HKD 100 - 300 Fixed

Time: Up to 4 weeks

Fees vary from bank to bank, relationship balance, creditworthiness of the check (e.g. corporate vs personal vs treasury).

Reference
www.personal.hsbc.com.hk/1/content/hongkongpws/pdf/bank-tariff.pdf (Page 8)
www.dbs.com.hk/iwov-resources/pdf/ratesfees/notice-bankcharges.pdf (Page 6)
www.citibank.com.hk/english/banking/pdf/service_fee.pdf (Page 6)