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yu888
Board Deity
Joined: Jan 25, 2003
Posts: 19335
Location: ZhongShanParkArea SH
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 Posted:
Oct 22, 2008 - 04:12 PM |
 
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| Post subject: Ideas on Cashing Travellers Cheques I received... |
So like an idiot, i helped a friend exchange his travellers checks and now i am thinking, "crap, do i have to send them back to the US to deposit these?"
The checks have been cross signed so in the US, theyw ould be considered "same as cash" but as we all know the Chinese banks will only cash them if they are accompanied with the signee and their passport. So... ideas? These are Amex travellers checks. Thanks. |
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The right to free speech does not grant you freedom from the repercussions of what you say. This and more on my Blog...Random Thoughts about Living in Shanghai...and more |
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p1atl10
Shanghai Royalty
Joined: Mar 18, 2005
Posts: 9052
Location: Shanghai
Status: Offline
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Oct 22, 2008 - 04:23 PM |
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Light Cigars with them?
Do you have a US account? And someone who could depsosit them there for you....? |
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Not all chemicals are bad. Without chemicals such as hydrogen and oxygen, for example, there would be no way to make water, a vital ingredient in beer.....Dave Barry |
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Michael
Moderator
Joined: Mar 22, 2002
Posts: 6334
Status: Offline
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Oct 22, 2008 - 04:27 PM |
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You probably do need to have the original purchaser to do anything here.. is there an Amex office in town. HSBC might take it on collection ( put the money in your account when the money is collected ) but even they might ask that the original purchaser show up. |
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underh20
Board Legend
Joined: Sep 27, 2006
Posts: 12702
Location: Veggie-Free Zone
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Oct 22, 2008 - 04:51 PM |
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I think BOC will take them as a collection item. The drawback is that they charge about $5 per item for collection. Make sure you put your name on the payee line exactly as it appears on your passport or expect major problems. |
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"If I need to buy a TV, I'll definitely buy a Japanese TV. A Chinese TV might explode." -- Jackie Chan |
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yu888
Board Deity
Joined: Jan 25, 2003
Posts: 19335
Location: ZhongShanParkArea SH
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Oct 22, 2008 - 04:59 PM |
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i was thinking that too... sigh. Brain fart so now ...
time to send it back to my US account I guess. |
_________________
The right to free speech does not grant you freedom from the repercussions of what you say. This and more on my Blog...Random Thoughts about Living in Shanghai...and more |
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underh20
Board Legend
Joined: Sep 27, 2006
Posts: 12702
Location: Veggie-Free Zone
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Oct 22, 2008 - 05:07 PM |
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One other thing to consider in the future is that travellers checks are not really that safe once endorsed by the original purchaser. By this I mean that if the original purchaser turns around and reports them lost, when you try to negotiate the checks you will get FITA. Hope it was a real good friend .. not someone like, say, MoaningLisaPees, Platty, RawFish or French Lover.  |
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"If I need to buy a TV, I'll definitely buy a Japanese TV. A Chinese TV might explode." -- Jackie Chan |
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Oilman
Reacher
Joined: Nov 22, 2005
Posts: 325
Location: Xu Jia Hui
Status: Offline
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Oct 22, 2008 - 05:08 PM |
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I remember BOC cashing them, but I am sure having 2 signatures will really screw things up. It took long enough to cash when I brought someone to the bank with all the documentation! Send'em stateside. |
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Sorry, I somehow sometimes is an illiterate~~~~~~~ |
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p1atl10
Shanghai Royalty
Joined: Mar 18, 2005
Posts: 9052
Location: Shanghai
Status: Offline
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Oct 22, 2008 - 06:12 PM |
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Hope it was a real good friend .. not someone like, say, MoaningLisaPees, Platty, RawFish or French Lover. Wink
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I would have reported them stolen by now!
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Not all chemicals are bad. Without chemicals such as hydrogen and oxygen, for example, there would be no way to make water, a vital ingredient in beer.....Dave Barry |
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underh20
Board Legend
Joined: Sep 27, 2006
Posts: 12702
Location: Veggie-Free Zone
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Oct 22, 2008 - 06:13 PM |
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^ Speak of the devil!  |
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"If I need to buy a TV, I'll definitely buy a Japanese TV. A Chinese TV might explode." -- Jackie Chan |
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mommy&kids
Talker
Joined: June 07, 2007
Posts: 89
Status: Offline
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Oct 22, 2008 - 08:03 PM |
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BOC will not cash it if you have two signatures. All banks will charge a std. collection fees of 0.75% per US$1000. Maybe Citibank, you can deposit a max. of US$1K per day. You also get better rate if you deposit the checks v. cashing them, so deposit it first and cash it later. Good luck finding a bank to accept them. |
Last edited by mommy&kids on Oct 23, 2008 - 02:05 PM; edited 1 time in total |
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underh20
Board Legend
Joined: Sep 27, 2006
Posts: 12702
Location: Veggie-Free Zone
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Oct 22, 2008 - 09:39 PM |
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| mommy&kids wrote: |
| BOC will not cash it if you have two signatures. All banks will charge a std. collection fees of 0.75% per US$1000. Maybe Citibank, you can deposit a max. of US$1K per day. You also get better rate if you deposit the checks v. cashing them, so deposit it first and cash it later. Good luck finding a bank to accept them. |
Yes, BOC will cash them as long as you are the payee. It will be treated as a collection item and the funds will be available after approximately 6 weeks.
There is a minimum of 50 - 60 RMB for BOC collection fees depending on which branch you go to. Every branch in Shanghai does not have the same minimum fee, but the 0.75% is uniform. |
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"If I need to buy a TV, I'll definitely buy a Japanese TV. A Chinese TV might explode." -- Jackie Chan |
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Wasabichez
PopStar
Joined: Dec 05, 2002
Posts: 1293
Location: Shanghai, China
Status: Offline
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Oct 22, 2008 - 10:56 PM |
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Isn't there a Western Union somewhere in Shanghai? Do they offer these kinda services? Just brainstorming here. |
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yu888
Board Deity
Joined: Jan 25, 2003
Posts: 19335
Location: ZhongShanParkArea SH
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Oct 23, 2008 - 11:11 AM |
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My other thought was to find an AMEX office here but even then I am uncertain they are related enough to the arm that handles travellers checks. Oh well. Will figure it out... hopefully |
_________________
The right to free speech does not grant you freedom from the repercussions of what you say. This and more on my Blog...Random Thoughts about Living in Shanghai...and more |
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underh20
Board Legend
Joined: Sep 27, 2006
Posts: 12702
Location: Veggie-Free Zone
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Oct 23, 2008 - 12:13 PM |
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^ AmEx office in China doesn't handle financial transactions. They are just marketing paper-pushers. |
_________________
"If I need to buy a TV, I'll definitely buy a Japanese TV. A Chinese TV might explode." -- Jackie Chan |
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yu888
Board Deity
Joined: Jan 25, 2003
Posts: 19335
Location: ZhongShanParkArea SH
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Oct 23, 2008 - 01:48 PM |
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yeah i know... friend worked there for years...was just hoping they finally evolved, especially after one of those local cnuts running crap left |
_________________
The right to free speech does not grant you freedom from the repercussions of what you say. This and more on my Blog...Random Thoughts about Living in Shanghai...and more |
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underh20
Board Legend
Joined: Sep 27, 2006
Posts: 12702
Location: Veggie-Free Zone
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Oct 23, 2008 - 01:51 PM |
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That local cnut must have been promoted to CEO because now AmEx in the US is turning to pure crap. |
_________________
"If I need to buy a TV, I'll definitely buy a Japanese TV. A Chinese TV might explode." -- Jackie Chan |
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