cashier's check primer

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8lrr8
StreetBeater

Joined: Oct 14, 2004
Posts: 2270
Location: here!

Posted: Nov 07, 2007 - 10:51 AM
Post subject: cashier's check primer

i'm sure there are more than a handful of people out there who are curious about the process of obtaining a cashier's check. the following should help:

1. acc to my GF who contacted bank of china, the cap on a cashier's check for normal situations is 10k USD.

2. i think bank of china is the only bank that can do it for u (but i'm not positive).

3. u'll need to bring your passport and jot down the address of the payee (u'll need this). u'll also need some cash (RMB) on hand. bring 1k just to be safe.

4. go to bank of china, but dont pick up a normal "personal banking" number slip. it's another one, might be corporate or whatnot as i dont know since i'm illiterate and just asked the security guard to help me get the right number slip.

5. fill out the form (there are 2 u need to complete). the form will ask u for the addy of the payee. it'll also ask u the purpose of the cashier's check.

6. the service charge for a cashier's check is quite hefty. ~1.3% or so based on my experience.

7. when the bank clerk is done with your paperwork, he/she will instruct u to go to another bank window (u can cut in line). here they'll count your money, examine it for any counterfeits. after that's done, they'll give u a slip and u use it to pick up your cashier's check the following morning.

when i went this morning they said it should be ready by 3-4pm this afternoon. but due to convenience i'll pick it up tomorrow morning. they told me to ask for the lobby manager when i arrive (i dont need to get a number and wait in line).

so that's the whole process in a nutshell.

One_Brick_Shy

Rocker

Joined: May 20, 2004
Posts: 765
Location: Out looking for a brick, of course.
Status: Offline

Posted: Nov 07, 2007 - 11:52 AM

Direct transfer is much easier. If you deposit a cashier's check or bank draft from another country into a bank account here in China wait is approximately 30-60 days. Direct transfer is about 3 days. Think the cost is much lower as well unless the BOC has become another of the money grabbing lowlife banks.

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