I received a check in USD and found out that my bank (postfinance) does not allow me to cash it.
I wanted to open an account with another bank for a while, but now this gives me the right push. Only I wonder: if PF does not do it, maybe other banks will also not cash my check.
Does your bank allow it?
I think UBS allows it but they charge at least 20 CHF and then probably rip you off on the exchange rate on top of that.
Schwab. It’s a US bank and brokerage but they take european customers too. I haven’t really tried cashing checks but heard it’s as simple as just taking a picture of it with their mobile app, no need to actually mail anything anywhere
This sounds very interesting as I wanted to find a bank to put some USD for some time anyway, and I guess Schwab would pay more than 0% interest rate that I get on PF. Thanks
Even IB will pay you 1.9% on USD
Keeping money in CHF at the moment is a complete rip off
IB also seems to accept checks
…which is a slightly negative rate in real terms.