Which bank will cash a USD check?

Banks, Insurances & Third Pillar
1

Hi there,

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?

Thankz!
G

2

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.

3

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

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4

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 :slight_smile:

5

Even IB will pay you 1.9% on USD

Keeping money in CHF at the moment is a complete rip off

6

IB also seems to accept checks

https://ibkr.info/node/1134

7

…which is a slightly negative rate in real terms.
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More here.

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