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Rexsmith

cashing US tax refund checks

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Rexsmith

I am trying to help an old fellow here in Cebu. He send me the following, " I have an income tax refund check of 1000 US dollars issued by the US Treasury. But I can not cash it. I tried HSBC but their policy of cashing this type of check ended several months ago. Any ideas how I can cash this check?" 

Can someone here suggest something? I know no other details. Above is the only info I have. My friend lives here in Cebu.

Thanks very much!

 

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smokey

Pawn shop 20%i heard.  Who gets refund checks these days

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RogerDuMond

Doesn't he have a Philippine bank account? If he does, he should open a dollar account with that bank and deposit the check.

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to_dave007

don't some of the banks here put a rather long HOLD on the checks before you can access the money?

Even several years ago HSBC wouldn't deposit a US$ check for me AT ALL..  even though I had HSBC US$ account..  because it was drawn on Canadian bank. 

I'm with Smokey on this..  For years now being getting all these gov't cheques auto-deposited.

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Bama
2 hours ago, smokey said:

Who gets refund checks these days

People who over pay their taxes during the course of a year often get refunds.

If your friend has a acct. in the US then simply mail to the bank via registered mail. Enclose a deposit slip---copies can be found on the internet if none are on hand. It's takes about a month to be deposited and is free.

BTW-----US income tax checks expire in one year. Expired checks would need to be reissued before being honored.

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Rexsmith

Appreciate all the replies. He has no US bank accounts. I will pass on the info mentioned. Thanks. 

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lamoe

I had a somewhat similar situation this year

Tax refund - indicated direct deposit on return - still sent it to my US HOR (home of record) - had her deposit  in account it should have gone to - have email of my personnel banker - cleared process with her before hand.

Could have just taken a pic of my signature emailed it, had her forge my signature and deposit it :rolleyes:

Does he have any trusted friends / relatives in US?

I believe he could endorse the check with "pay to the order of" and list the person who is authorized to cash it.

They could cash it and wire him the money

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Edited by lamoe

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smokey

What is a check.  A piece of paper till the person gets the cash in hand 

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smokey

You can get the pawn shop to cash it but 20%is standard i personally would not cash a check for 50% to much like gambling

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Jawny

I used to use money changers when I had travelled with cash.  This is before I moved here.  The money changers I went to all had a sign "no third party or personal checks" clearly posted.  Along with the posting were many examples of checks they had provided cash for, but had bounced.  

I had a short stint working at the social security administration years ago as a temporary.  I watched as an old retired fellow, clearly not sober, came in to make a claim his annuity check had not arrived.  As expected, the SSA agent made an inquiry to the Department of Treasury, and a photocopy of the endorsed check (the supposedly missing one) was provided to the old fellow.

A few days later, an owner of a nearby bar called and let us know that the fellow had come into the bar and tried to cash the photocopy. 

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smokey

Usa checks can be cashed but the fee is high my son had a school check usa and cashed i at pawn shop. But i sure dont cash checks

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Headshot

The best way to take care of a check is to have a dollar account in a Philippine bank and deposit the check in the account. It will take almost a month before the money will be available in the account, but at least there aren't any exorbitant fees.

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wondersailor
On 9/23/2019 at 11:18 AM, Headshot said:

The best way to take care of a check is to have a dollar account in a Philippine bank and deposit the check in the account. It will take almost a month before the money will be available in the account, but at least there aren't any exorbitant fees.

Have you checked that recently? I recently thought of opening up a dollar account and depositing a check on my US bank account. I figured this was the least expensive way of transferring dollars to the Philippines. One bank wanted $35 per check, another $40 and the third wanted 4% of face value. These banks have all the angles covered.

 

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Jawny

I have three different types of US dollar accounts at Metrobank. For deposits of US dollar checks, personal or made directly to me (like a tax refund check) the deposit fee is $2.50. 

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smokey
4 hours ago, wondersailor said:

Have you checked that recently? I recently thought of opening up a dollar account and depositing a check on my US bank account. I figured this was the least expensive way of transferring dollars to the Philippines. One bank wanted $35 per check, another $40 and the third wanted 4% of face value. These banks have all the angles covered.

 

I have that type at bdo each check is 5 dollars and a 30 day hold

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