Re: Possible cheaper way to cash US Checks
Bank Of America offers lock box services. It’s a business banking service for larger customers, which it sounds like you might already be.
http://www.bankofamerica.com/smallbusiness/treasurymanagement/index.cfm?template=tm_lockbox.cfm&state=IT#top
The live Chat robot said: “For details regarding the fees associated with lockboxes, it would be necessary to contact 1.800.775.6526 8:30 a.m. - 5:00 p.m., Monday - Friday. Or 1.888.287.4637 and request to be connected to our Treasury Management experts.”
So I don’t know if those 800 numbers work outside of the US, or if you’re smarter than Live Chat and already know it!
Re: Possible cheaper way to cash US Checks
Unfortunately that would be what you call Tax evasion… Everything has to go through the company.
It ends up being such a large amount for me, because each time I send in about 30-40 checks in one go. And the amounts go from only a few dollars to much more. No matter it still ends up being a hefty $200+ in fees alone. More often $300+.
It doesnt really matter here, if its huge checks or not. They still charge a big amount for the “service”.
[quote=nickbaer;16257]UK/European webmasters should get to be pals with one or more American webmasters, or maybe an Atty like Chad, to Bank your checks in an account here with your name on it, so you can then use the debit card at your ATM, POS, or to pay bills online.
I’d volunteer, but I am headed your way.[/quote]
Re: Possible cheaper way to cash US Checks
Depositing checks into a Bank account with your name on it is hardly tax evasion.
It’s called “Banking”.
Re: Possible cheaper way to cash US Checks
Sorry I missed the part with bank account in my name.
Would that be possible? Can a non US citizen just walk into a bank and open an account?
[quote=nickbaer;16267]Depositing checks into a Bank account with your name on it is hardly tax evasion.
It’s called “Banking”.[/quote]
Re: Possible cheaper way to cash US Checks
You can start on-line.
Many Banks with US branches have UK/Europe/Asia branches.
I have a US Bank, which helped me open an account in their France branch, so that I have an account presence where Euros is the currency.
SImilarly, they are at present helping me open my London account, so that I have an account presence where Pounds Sterling is the base currency.
There’s forms to sign declaring where my residency in the US is, but no other residency requirement.
I gave BOA as an example, only because they’re big, and I found the Lockbox service quickly on their Search page. The service isn’t free, but if it is cheaper than $300/month, say $100/month, you’re money ahead.
There might be smaller cheaper, or bigger cheaper, alternatives. Thanks to the Internet.