Originally Posted by ebh
I was getting ready to withdraw a little cash from Bovada as well. I've read about people having problems cashing the checks at their banks? Is this just a myth or should I play it safe and take it to Wal-Mart or somewhere like that?
I recently cashed a Bovada withdrawal check (it took 2 weeks from the time I made the request for the check to be delivered - DHL was the courier). My check was drawn on a bank in Singapore
. I first went to my primary bank to cash the check. This is a local bank (i.e., not one of the big National banks) that is well known and established where I live (Kansas City). I pointed out that the check I was depositing was from a bank in Singapore. The teller called someone asking whether I could deposit a "Foreign bank note" - which I thought was an odd term. The teller was told there would be a $75 fee to process the deposit. I said no thanks.
Next I went to the bank where my kids have their accounts with me as a joint owner. This is
one of the big National banks. I showed them the check from Singapore and asked if there would be a fee to deposit it. They looked and said they didn't think so because it had normal MICR numbers on the bottom of the check. They ran the check through some MICR device right there in the branch and said - "No Problem". No fees, just a regular deposit into a checking account.
So, tell your bank you have a check from a bank in Singapore and ask if there is a fee to deposit it. Plan accordingly.
Hope that helps.